Georgieva: The International Monetary Fund is preparing to approve emergency financing of $ 1.4 billion for Ukraine

International Monetary Fund Managing Director Kristalina Georgieva said today that the Executive Board of the International Monetary Fund is preparing to approve emergency financing of $1.4 billion to Ukraine to help it respond to the Russian invasion.

Georgieva said that IMF experts are participating in daily discussions with the Ukrainian authorities to help them manage the economic crisis triggered by the Russian invasion and to mobilize financial support and resources. Georgieva added that it was too early to predict the impact on the global economy of the war and comprehensive sanctions imposed by the United States and its allies on Russia, and stressed that it was not clear to what extent the Russian economy could contract, but a recession is a very likely outcome.