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The Executive Board of the International Monetary Fund (IMF) approved the allocation of emergency assistance to Ukraine in the amount of $1.4 billion, the fund said in a statement.
The report says that the funds are allocated “to meet urgent funding needs and mitigate the economic consequences” of the Russian military operation in Ukraine. The fund stressed that a payment equivalent to 50% of Ukraine’s quota in the IMF should help the country meet the urgent needs of the balance of payments.
At the same time, IMF Managing Director Kristalina Georgieva noted that Kyiv’s needs for financing “today are large and may subsequently increase significantly.” In addition, she added that the refugee situation, the destruction of infrastructure and production facilities could lead to a “deep recession” in Ukraine this year.
Recall, on February 24, Russian President Vladimir Putin made an emergency appeal to the Russians and announced a special military operation in the Donbass. In his speech, he stated that “circumstances require decisive action from Russia” and stressed that “Russia will not allow Ukraine to have nuclear weapons.” In response to Russia’s actions, Western countries (USA, Canada, European Union, Great Britain, Japan) announced new, tougher sanctions against the Russian Federation, including financial and economic ones.
You can follow the chronicle of events in connection with the situation in Ukraine here.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
