Statement information
The new aid programme, according to the Fund, intends to “help Ukraine in addressing its pressing demands in terms of balance of payments,” as well as “to generate future financial support from donors and creditors to Kiev.”
• According to the estimate of the Fund, “the scale and intensity of the war that Russia has been conducting against Ukraine for almost 7 months has caused immense human misery and seriously harmed the Ukrainian economy.
• He continued, “The finance needs remain quite significant, and the gross domestic product is predicted to decline by 35% in 2022 compared to 2021.
Volodymyr Zelensky, the president of Ukraine, had announced the IMF’s help earlier on Friday via “Twitter,” stating that “the cash will reach Ukraine starting today.”
Zelensky thanked the International Monetary Fund Executive Board and Foundation Director General Kristalina Georgieva “for their support.”
The IMF stated that “the authorities deserve praise for having maintained the country’s macroeconomic stability under such extremely challenging circumstances.”
The World Bank has given Ukraine $13 billion in help since the start of the conflict, including $530 million in additional assistance last September “to fulfil the immediate requirements precipitated by the Russian military offensive.”
The US Congress also approved a new $12 million aid package for Kiev.
Including $3. 7 billion in the form of military hardware, the US has contributed a total of $65 billion to the Russian offensive since it began.
Ukraine receives emergency aid from the International Monetary Fund.
About Author
