Washington, 8 October 2022 (dpa/MIA) - The International Monetary Fund (IMF) has approved Ukraine's request for $1.3 billion in additional emergency funding to help sustain its economy. The IMF on Friday approved the funding, which will come from a newly created emergency lending programme. The money would help Ukraine meet urgent balance of payment needs, including those caused by the loss of revenue from grain exports, IMF said. "The scale and intensity of Russia’s war against Ukraine that started more than seven months ago have caused tremendous human suffering and economic pain," the IMF said. The Ukrainian economy is forecast to contract by 35% in 2022 and financing needs remained very large, IMF said. At the same time, IMF praised the Ukrainian government for maintaining financial stability under "extremely challenging" circumstances.