The head of the IMF has said Ukraine will need $5bn a month for the next three months to plug the hole left by the crippling impact of Russia’s invasion on the country’s finances.
Kristalina Georgieva, the fund’s managing director, said the IMF would discuss Ukraine’s financing needs with the country’s partner governments. Georgieva suggested the support should come in the form of grants as part of a co-ordinated effort from the fund’s member countries.
“A big part of the economy is not functioning,” Georgieva told reporters on Wednesday. “Filling this financial gap is best done by relying on grant financing — that is what we want to see.”