The International Monetary Fund said on Friday that its executive board had approved $1.3 billion in emergency funding for Ukraine. In a statement, the I.M.F. said the emergency allocation, which follows other aid previously designated, would help Ukraine with its “large and urgent fiscal and external financing needs.”
Kristalina Georgieva, the leader of the I.M.F., said in a Twitter message on Friday afternoon that the financing was approved under a new program to address food shortages that was authorized only a week ago.
“The Ukrainian authorities deserve considerable credit for having maintained an important degree of macro-financial stability in these extremely challenging circumstances,” Ms. Georgieva added in the statement.
On Thursday, she made an address in which she lowered the I.M.F.’s global economic outlook, citing recession risks because of higher inflation, a spike in borrowing costs and the continued disruptions in supply chains. She noted that the disruption in Russian gas supplies brought on by the war was inflicting pain on Europe, especially.
The announcement on the emergency funding was made days before the boards of governors of the I.M.F. and the World Bank are scheduled to gather in Washington for annual meetings, which begin on Monday. The World Bank’s president, David R. Malpass, Ms. Georgieva and Prime Minister Denys Shmyhal of Ukraine are scheduled to lead a discussion on Wednesday about support for Ukraine.
