The International Monetary Fund (IMF) said on March 5, local time, that Ukraine's request for $1.4 billion in emergency financing will be submitted to the Executive Committee as early as next week.
Countries with close ties to Russia are also at risk of supply chain shortages, according to the IMF, which is currently negotiating an aid package with Moldova.
The IMF said the ongoing war and related sanctions would have serious implications for the global economy.
IMF President Georgieva presided over the meeting on the 4th and said that the current situation in Russia and Ukraine has caused energy and wheat prices to soar, exacerbating the inflationary impact of the new crown epidemic and global supply chain shortages.
The International Monetary Fund said in a statement that if the conflict between Russia and Ukraine continues to escalate, the economic losses will be more serious, and sanctions against Russia will also affect other countries. Countries should carefully monitor the rise in domestic prices and implement policies to protect economically vulnerable groups.
The International Monetary Fund also said earlier this week that Ukraine has access to an approved budget of $2.2 billion between now and June.
(CCTV reporter Xu Tao and Xu Xiao)