The International Monetary Fund will modify its lending rules, enabling the institution to keep supporting countries should they fail to repay official creditors.
The move would help Ukraine in case it misses the $3 billion debt payment to Russia. The latter immediately criticized, with Russian Finance Minister Anton Siluanov saying the decision was biased and rused.
In a statement, Communications Department Director Gerry Rice said the IMF Executive Board held a meeting and agreed to change the existing policy on non-toleration of arrears to official lenders.
Ukraine is reorganizing its debts to inject a $15 million funding gap, as per IMF-led $40 billion bailout. Defaulting on the Eurobond could jeopardize the program.
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