The International Monetary Fund (IMF) is preparing a new emergency aid package for Ukraine for 15,000 million dollars.
As explained by the managing director, Kristalina Georgieva, the goal is to give 5,000 million dollars a month to the Ukrainian government for three months to keep its economy active.
If the war continues, the IMF will work with the board, made up of member countries, to obtain more resources to help the Ukrainian government, he said.
These resources will be exclusive so that the economy of that country continues to function, he stated, and they will soon begin to work to prepare a strategy to financially support the reconstruction of the country, he assured.
At the press conference that marks the start of the six-monthly membership meetings, Georgieva commented that this support can be directed in the form of guarantees coordinated by IMF members.
The head of the institution ruled out imposing some kind of payment strategy on the country in exchange for financial support, especially while Russia’s hostilities continue.
In addition, also at the opening conference of the World Bank Spring Meeting, President David Malpass said that they are working to grant an aid plan for 170,000 million dollars that will be deployed in favor of Ukraine over the next 15 months.
This financial support package can help mitigate the economic cost that the war and the pandemic have taken on Ukraine, he said.
The cost of the war in these eight weeks that it has completed is incalculable, according to the IMF, since there has been a significant destruction of human capital and physical capital and the country is suffering an exodus of citizens. Even if the war ends right now, it will be years before Ukraine can rebuild itself, they said inside the World Economic Outlook.