IMF’s Georgieva said Ukraine’s Zelenskiy promised a quick response to the call for funding

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IMF Managing Director Kristalina Georgieva speaks during a Vatican-organized conference on economic solidarity, at the Vatican February 5, 2020. REUTERS/Remo Casilli

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WASHINGTON, March 4 (Reuters) – International Monetary Fund chief Kristalina Georgieva said she spoke with Ukrainian President Volodymyr Zelenskiy on Friday and assured him of a “swift response” to the funding request. Ukrainian emergency.

“Just spoke with President @ZelenskyyUa and expressed my high regard for his courage and leadership,” IMF Managing Director Georgieva said in a tweet.

“The IMF is committed to supporting #Ukraine and its people. I assured @ZelenskyyUa of a prompt response to Ukraine’s IMF request for emergency financial assistance,” he said. she declared.

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Zelenskiy responded on Twitter, saying he was grateful for the urgent aid already provided by the IMF and calling on the global lender to help rebuild his country after the war.

“The IMF must take the lead in financing recovery after the end of Russian aggression. #StopRussia,” he wrote.

Russia launched a full-scale invasion of Ukraine on February 24 and its armed forces are bombarding Ukrainian urban areas.

Ukraine has swapped all but $80 million of the $2.7 billion in new IMF emergency reserves, or special drawing rights, it received in August, IMF data shows. and debt experts say it will likely need urgent debt relief this year.

IMF and World Bank rush to increase funding and policy support for Ukraine, with IMF board likely to consider Ukraine’s request for emergency funding through the rapid financing instrument from next week. Read more

The Fund said Ukraine could access an additional $2.2 billion before the end of June under its stand-by arrangement with the IMF.

A World Bank emergency disbursement to Ukraine will increase to 460 million euros ($509 million) with contributions from Sweden and the Netherlands, and will be subject to board approval. administration on Friday, two people familiar with the transaction told Reuters on Thursday. Read more

A vote on this is expected on Monday or Tuesday.

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Reporting by Andrea Shalal and David Lawder; Editing by Chizu Nomiyama and Jonathan Oatis

Our standards: The Thomson Reuters Trust Principles.

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