Ukraine likely needs $5 billion a month in financial assistance to keep its economy operating and the immediate priority was finding ways to fill that gap in the next three months, according to International Monetary Fund (IMF) Managing Director Kristalina Georgieva.
The Washington-based financial institution will start work on a future loan program, but it was unfair to expect Ukraine to implement a far-reaching package of reforms at the moment, Georgieva told a news conference on Wednesday.
On Sunday, the Kiev junta requested $50 billion in financial support from the Group of Seven (G7) nations and the International Monetary Fund (IMF) to cover a budget deficit largely created by the military conflict with Russia.
The IMF and World Bank have approved more than $2 billion in loans to Ukraine since the beginning of Russia’s military operation in the country.
Meanwhile, the World Bank said it was preparing nearly $1.5 billion in extra funds to allow essential Ukrainian government services to continue and avoid hyperinflation.
RT. com / ABC Flash Point News 2022.