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Russia-Ukraine war: the IMF approved aid of 1,400 million dollars for the Zelensky government

The directive of the International Monetary Fund (IMF) approved this Wednesday a f$1.4 billion emergency funding for Ukraine, in order to help the battered country with the “massive humanitarian and economic crisis” caused by the Russian invasion.

The managing director of the IMF, Kristalina Georgieva, indicated that the package will provide “critical financial support” which, in turn, will favor a “large-scale mobilization” of funds necessary to “mitigate the economic impacts of the war” in the country that Volodymyr Zelensky drives.

“The need for financing is important, urgent, and could increase considerably as the war persists,” he said in statements reproduced by the AFP news agency.

Kristalina Georgieva announced that the IMF will send emergency aid to Ukraine. Photo Ludovic Marin/AFP

According to Georgieva, Ukraine will be the victim of a “deep recession” this year. Before the war, the IMF estimated a growth of the Ukrainian economy of 3.6% for 2022.

Ukraine, one of the poorest countries in Europe, was already benefiting from an IMF aid program, which has now been urgently modified due to the siege by Russian troops, who threaten to take Kiev.

The International Monetary Fund approved emergency aid to Ukraine.  Photo Yuri Gripas/Reuters

The International Monetary Fund approved emergency aid to Ukraine. Photo Yuri Gripas/Reuters

The so-called “confirmation” agreement, which provided for a disbursement of 2.2 billion dollars between now and the end of June, was canceled at the request of the Ukrainian authorities.

The head of the international financial organization based in Washington also stressed that “the emergency political response of the Ukrainian authorities has been remarkable,” adding that so far Ukraine “has kept up to date on all debt obligations.”

Two weeks after the beginning of the Russian invasion of Ukraine, the human and material toll left by the most serious military conflict in Europe in recent years is very high, from which more than two million people have fled, a figure that increases every hour before the advance of the troops sent by Vladimir Putin.

With information from AFP

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