Statement by IMF Managing Director Kristalina Georgieva on Ukraine

IMF News, February 25, 2022

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Canonical URL: Statement by IMF Managing Director Kristalina Georgieva on Ukraine

Press Release No. 22/51
Date: February 25, 2022
Issued by: IMF Communications Department, MEDIA RELATIONS
Summary of statement: The events in Ukraine are described as "a matter of grave concern—first and foremost due to the human toll and suffering of ordinary people." The conflict is having "a serious economic impact, which will worsen the longer it continues" and "threatens to undo some" of the global economy's recovery from the COVID-19 pandemic.

The Managing Director briefed the Executive Board on the IMF’s initial assessment of the unfolding situation.
IMF staff will "continue to work closely with the authorities to support Ukraine in every way we can."
Coordination commitments: "We will also continue to work hand in hand with the World Bank Group and other partners to coordinate our support and ensure the maximum benefit for Ukraine."
Current operational modality: "These discussions are being conducted remotely with staff participating from Washington."

The IMF "has a number of instruments in its toolkit" and will "continue to discuss with the authorities how we can best assist them" as the situation evolves.
Specific financial position noted: "We are exploring all options for further financial support, including under the existing Stand-By Arrangement for an outstanding amount of US$2.2 billion."
Ukraine has also "requested IMF emergency financing."
Non-financial support: "In addition to ongoing policy advice," IMF engagement will include tailored financial support as appropriate.

The conflict poses "significant economic risks in the region and around the world."
Areas under active assessment include:
- "the functioning of the financial system"
- "commodity markets"
- "the direct impact on countries with economic ties to the region"
The IMF states it is ready to "support our members as needed, in close coordination with our international partners."

Statement by IMF Managing Director Kristalina Georgieva on Ukraine — Press Release No. 22/51 (February 25, 2022).

Заява Директора-розпорядника МВФ Крісталіни Георгієвої стосовно України
- Заява Директора-розпорядника МВФ Крісталіни Георгієвої стосовно України (Markdown version)
- Заява Директора-розпорядника МВФ Крісталіни Георгієвої стосовно України (PDF)