China News Agency, Washington, March 9 (Reporter Sha Hanting) The Executive Board of the International Monetary Fund (IMF) announced on the 9th local time that it would provide Ukraine with $1.4 billion in emergency assistance to mitigate the impact of the war on its economy.
The IMF said in a statement on the same day that the IMF Executive Board approved a disbursement of $1.4 billion (1.0059 billion special drawing rights) to Ukraine under the Rapid Financing Facility (RFI) to help the country meet emergency financing needs and mitigate the economic impact of the war.
The statement said that the funds allocated under the RFI this time, equivalent to 50% of Ukraine's share in the IMF, will help it meet the urgent balance of payments needs it faces due to the impact of the current war, and provide important support in the short term, while also providing Facilitate other partners to provide financing to the country.
IMF President and Executive Board Chairman Georgieva issued a statement on the same day, commenting on the Russian-Ukrainian war "heavy casualties, surging refugee flows, serious damage to infrastructure and production capacity, causing great suffering to the people, and the economy is in jeopardy. This year will be in a deep recession. Funding needs are high and urgent right now, and will likely increase substantially as the war continues."
Georgieva also said that under the current circumstances, the IMF has approved important financial support for Ukraine, which will help to mobilize more concessional financing on a large scale, so as to fill the financing gap and alleviate the impact of the war on the economy.
After the war is over and damage can be properly assessed, it is likely that substantial additional support will be required to support post-war reconstruction efforts.
Georgieva also said that the IMF expresses its deep sympathy for the Ukrainian people at a difficult time and will continue to maintain close contact with the Ukrainian authorities.
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