First modification:
The fund will be processed under a rapid financing instrument of the agency that allows assistance to countries with urgent needs, without the requirement of having any loan program in force.
“Financing needs are large, urgent and could grow significantly as the war continues,” International Monetary Fund Managing Director Kristalina Georgieva said in the statement announcing the approval of a $1.4 billion aid fund. emergency to Ukraine.
The agency also warned that the war will cause a “deep recession” in the country. The loan, according to the agency, responds to the Ukrainian government’s request for international aid and will serve to “mitigate the economic impact” of the war started by Russia.
“The tragic loss of life, the huge flows of refugees and the massive destruction of infrastructure and productive capacity are causing serious human suffering and will lead to a deep recession this year,” it said.
According to the agency, Ukraine canceled the loan program that they had since 2020 and of which there were still some 2.2 billion dollars to be disbursed.
Ukraine showed “its intention to work with the IMF” to replace that program with a more “appropriate” one suited to the current context, which has as its objective “rehabilitation and growth, when conditions allow.”
The emergency fund will be sent through the IMF’s rapid financing method, used in countries with urgent needs without the need for them to have a specific loan program in place with the institution.
“Financing needs are large, urgent, and could increase significantly as the war continues,” the statement said, but once the war is over, Ukraine is likely to need “significant additional support.”
This disbursement under the IMF’s Rapid Financing Facility is equivalent to 50% of Ukraine’s quota and will help finance short-term emergency spending needs, while helping to catalyze financing from other partners, according to the IMF. .
The IMF said the war in Ukraine will have a “severe impact” on the world economy, although economic ties between Kiev and Moscow are at greater risk. As a result of the conflict, Moldova requested an increase and certain changes to the debt program it has with the IMF.
For its part, the credit rating agency Moody’s foresees an “economic catastrophe” for Russia due to retaliation from the West that will slow down the growth of global GDP, motivated by the increase in the costs of energy and raw materials.
with EFE
First modification:
The fund will be processed under a rapid financing instrument of the agency that allows assistance to countries with urgent needs, without the requirement of having any loan program in force.
“Financing needs are large, urgent and could grow significantly as the war continues,” International Monetary Fund Managing Director Kristalina Georgieva said in the statement announcing the approval of a $1.4 billion aid fund. emergency to Ukraine.
The agency also warned that the war will cause a “deep recession” in the country. The loan, according to the agency, responds to the Ukrainian government’s request for international aid and will serve to “mitigate the economic impact” of the war started by Russia.
“The tragic loss of life, the huge flows of refugees and the massive destruction of infrastructure and productive capacity are causing serious human suffering and will lead to a deep recession this year,” it said.
According to the agency, Ukraine canceled the loan program that they had since 2020 and of which there were still some 2.2 billion dollars to be disbursed.
Ukraine showed “its intention to work with the IMF” to replace that program with a more “appropriate” one suited to the current context, which has as its objective “rehabilitation and growth, when conditions allow.”
The emergency fund will be sent through the IMF’s rapid financing method, used in countries with urgent needs without the need for them to have a specific loan program in place with the institution.
“Financing needs are large, urgent, and could increase significantly as the war continues,” the statement said, but once the war is over, Ukraine is likely to need “significant additional support.”
This disbursement under the IMF’s Rapid Financing Facility is equivalent to 50% of Ukraine’s quota and will help finance short-term emergency spending needs, while helping to catalyze financing from other partners, according to the IMF. .
The IMF said the war in Ukraine will have a “severe impact” on the world economy, although economic ties between Kiev and Moscow are at greater risk. As a result of the conflict, Moldova requested an increase and certain changes to the debt program it has with the IMF.
For its part, the credit rating agency Moody’s foresees an “economic catastrophe” for Russia due to retaliation from the West that will slow down the growth of global GDP, motivated by the increase in the costs of energy and raw materials.
with EFE
First modification:
The fund will be processed under a rapid financing instrument of the agency that allows assistance to countries with urgent needs, without the requirement of having any loan program in force.
“Financing needs are large, urgent and could grow significantly as the war continues,” International Monetary Fund Managing Director Kristalina Georgieva said in the statement announcing the approval of a $1.4 billion aid fund. emergency to Ukraine.
The agency also warned that the war will cause a “deep recession” in the country. The loan, according to the agency, responds to the Ukrainian government’s request for international aid and will serve to “mitigate the economic impact” of the war started by Russia.
“The tragic loss of life, the huge flows of refugees and the massive destruction of infrastructure and productive capacity are causing serious human suffering and will lead to a deep recession this year,” it said.
According to the agency, Ukraine canceled the loan program that they had since 2020 and of which there were still some 2.2 billion dollars to be disbursed.
Ukraine showed “its intention to work with the IMF” to replace that program with a more “appropriate” one suited to the current context, which has as its objective “rehabilitation and growth, when conditions allow.”
The emergency fund will be sent through the IMF’s rapid financing method, used in countries with urgent needs without the need for them to have a specific loan program in place with the institution.
“Financing needs are large, urgent, and could increase significantly as the war continues,” the statement said, but once the war is over, Ukraine is likely to need “significant additional support.”
This disbursement under the IMF’s Rapid Financing Facility is equivalent to 50% of Ukraine’s quota and will help finance short-term emergency spending needs, while helping to catalyze financing from other partners, according to the IMF. .
The IMF said the war in Ukraine will have a “severe impact” on the world economy, although economic ties between Kiev and Moscow are at greater risk. As a result of the conflict, Moldova requested an increase and certain changes to the debt program it has with the IMF.
For its part, the credit rating agency Moody’s foresees an “economic catastrophe” for Russia due to retaliation from the West that will slow down the growth of global GDP, motivated by the increase in the costs of energy and raw materials.
with EFE
First modification:
The fund will be processed under a rapid financing instrument of the agency that allows assistance to countries with urgent needs, without the requirement of having any loan program in force.
“Financing needs are large, urgent and could grow significantly as the war continues,” International Monetary Fund Managing Director Kristalina Georgieva said in the statement announcing the approval of a $1.4 billion aid fund. emergency to Ukraine.
The agency also warned that the war will cause a “deep recession” in the country. The loan, according to the agency, responds to the Ukrainian government’s request for international aid and will serve to “mitigate the economic impact” of the war started by Russia.
“The tragic loss of life, the huge flows of refugees and the massive destruction of infrastructure and productive capacity are causing serious human suffering and will lead to a deep recession this year,” it said.
According to the agency, Ukraine canceled the loan program that they had since 2020 and of which there were still some 2.2 billion dollars to be disbursed.
Ukraine showed “its intention to work with the IMF” to replace that program with a more “appropriate” one suited to the current context, which has as its objective “rehabilitation and growth, when conditions allow.”
The emergency fund will be sent through the IMF’s rapid financing method, used in countries with urgent needs without the need for them to have a specific loan program in place with the institution.
“Financing needs are large, urgent, and could increase significantly as the war continues,” the statement said, but once the war is over, Ukraine is likely to need “significant additional support.”
This disbursement under the IMF’s Rapid Financing Facility is equivalent to 50% of Ukraine’s quota and will help finance short-term emergency spending needs, while helping to catalyze financing from other partners, according to the IMF. .
The IMF said the war in Ukraine will have a “severe impact” on the world economy, although economic ties between Kiev and Moscow are at greater risk. As a result of the conflict, Moldova requested an increase and certain changes to the debt program it has with the IMF.
For its part, the credit rating agency Moody’s foresees an “economic catastrophe” for Russia due to retaliation from the West that will slow down the growth of global GDP, motivated by the increase in the costs of energy and raw materials.
with EFE