(VOVworld) – In response to Ukraine’s appeal for emergency aid, the IMF said that it’s ready to respond and pledges early plans for Ukraine’s financial aids. IMF chief Christine Lagarde on Thursday said the fund would soon send a fact-finding team to Kiev to assess the country’s financial need and discuss necessary political reforms with the caretaker government. She added that IMF was talking with many international partners, both bilaterally and multilaterally, agreeing measures to support Ukraine amid the current complex developments. 

IMF's managing director Christine Largarde says a fact-finding group will be sent to Ukraine soon. Photo: internet

According to IMF regulations, any financial aid package from the institution needs approval from all 188 member countries and this process often takes several months. The US, the IMF’s biggest shareholder, on Wednesday announced that it would give Ukraine a loan of 1 billion USD, adding that the European Union was considering a loan of up to 1.5 billion USD to the country. However, any support would be provided through the IMF and they were responsible for supervising and ensuring that the Ukraine implements the necessary reforms.
In another development, the Swiss government that day announced that it was ready to freeze President Yanukovych’s Swiss bank assets.