WASHINGTON, March 6 — The International Monetary Fund on Saturday said it expected to bring Ukraine’s request for US$1.4 billion in emergency financing to its board for approval as early as next week and was in talks about funding options with authorities in neighbouring Moldova.
“While the situation remains highly fluid and the outlook is subject to extraordinary uncertainty, the economic consequences are already very serious,” the IMF said in a statement after a board meeting chaired by Managing Director Kristalina Georgieva. It said price shocks would be felt worldwide, and authorities should provide fiscal support for poor households for whom food and fuel made up a higher proportion of expenses, adding that the economic damage would increase if the war escalated.
“While it is very difficult to assess financing needs precisely at this stage, it is already clear that Ukraine will face significant recovery and reconstruction costs,” it said.
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