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IMF approves $1.4bn emergency support for Ukraine

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IMF approves $1.4bn emergency assist for Ukraine.

The board of the Worldwide Financial Fund (IMF) has accredited the disbursement of 1.4 billion {dollars} in emergency financing for Ukraine amid Russia’s army invasion.

“This disbursement will assist meet pressing stability of fee wants arising from the impacts of the continuing warfare.

“It should present crucial assist within the brief time period whereas taking part in a catalytic position for financing from different companions,” the IMF mentioned in a press release.

IMF’s Managing Director, Kristalina Georgieva, mentioned the Russian invasion of Ukraine would result in a “deep recession this yr.”

“Financing wants are massive, pressing and will rise considerably because the warfare continues,” she mentioned, praising the Ukrainian authorities’ emergency coverage response.

Georgieva mentioned the monetary assist ought to assist fill the financing hole and mitigate the financial impacts of the warfare.

“As soon as the warfare is over and a correct harm evaluation will be carried out, extra massive assist is more likely to be wanted to assist reconstruction efforts,” she added.


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