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IMF Executive Board lifts ban on lending to nations with past-due sovereign debts

December 08, 2015, 21:39 UTC+3 WASHINGTON
The decision particularly means the IMF will continue implementing its anti-crisis program for Ukraine even in case Kiev defaults on its debts to Russia
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© EPA/JIM LO SCALZO, Archive

WASHINGTON, December 8. /TASS/. The International Monetary Fund lifted the ban on lending to nations with past-due sovereign debts. The decision was made at the IMF’s Executive Board meeting on Tuesday. Russia voted against it.

"The IMF's Executive Board met today and agreed to change the current policy on non-toleration of arrears to official creditors," IMF Chief Spokesman Gerry Rice said. "We will provide details on the scope and rationale for this policy change in the next day or so," he added.

The decision particularly means the IMF will continue implementing its anti-crisis program for Ukraine even in case Kiev defaults on its debts to Russia. Certainly, it will also apply to other situations when nations with sovereign debts simultaneously use the credit support of the Fund.

Russia voted against the decision of the Executive Board, the Russian directorate in the IMF told TASS.

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