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WASHINGTON — The International Monetary Fund said on Friday its executive board has approved a new food shock borrowing window under its existing emergency financing instruments to help vulnerable countries cope with food shortages and high costs stemming from Russia’s war in Ukraine.
The IMF said the Food Shock Window will be open for one year through is Rapid Credit Facility and Rapid Financing Instrument programs for countries with urgent balance of payment needs that “are suffering from acute food insecurity, a sharp food imports shock, or from a cereals export shock.” (Reporting by David Lawder)
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