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, Kiev 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.