The International Monetary Fund (IMF) warned this Saturday that the war in Ukraine will have a “severe impact” on the economy and warned that countries with economic ties to Kiev and Moscow are exposed to greater risks.
“The current war and the sanctions associated with it will have a severe impact on the economy global”, the financial organization said in a statement.
The Fund explained that nations with economic ties to Russia and Ukraine are at “special risk” and could be exposed to shortage of goods, in addition to interruptions in supply chains.
These countries, moreover, are the ones that are hosting the largest number of refugees from UkraineHe said IMF.
As a result of these pressures, Moldova has already requested an increase and certain changes to the debt program it has with the IMF and the staff of the Fund is currently discussing different options with the Moldovan authorities, the statement detailed.
After the start of the Russian invasion, the Ukrainian government asked the IMF emergency financial aid worth 1,400 million dollars and, as detailed this Saturday, that issue will be evaluated “at the earliest next week” by the Fund’s Board of Governors.
The institution’s managing director, Kristalina Georgieva, assessed the request for Ukraine and the possible economic impact of the war during a meeting on Friday.
After months of tensions, Russia invaded ten days ago Ukraine and began bombing major cities, causing more than two thousand civilian deaths, according to provisional figures from the Ukrainian State Emergency Service, and the flight of more than a million people, according to the UN Refugee Agency (UNHCR). .
