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IMF chief Georgieva, Zelenskiy discussed ways to ramp up engagement with Ukraine

International Monetary Fund chief Kristalina Georgieva said she spoke with Ukraine’s President Volodymyr Zelenskiy on Tuesday and they agreed to explore ways to ramp up the IMF’s support for Ukraine using all available tools.

“Excellent call with President @ZelenskyyUa,” Georgieva wrote on Twitter (NYSE:TWTR). She said they discussed how the global lender could “continue to back Ukraine and agreed to explore ways to ramp up our financial and policy engagement to (Ukraine) using all tools available to us.”

The call came a day after the IMF’s executive board held an informal session to discuss a proposal that would give all member countries, including Ukraine, access to additional emergency funding to deal with budget woes caused by food shocks.

If approved, the move would give Ukraine access to an additional $1.4 billion on top of $1.4 billion in emergency aid it received from the IMF in March.

In a separate posting on Twitter, Zelenskiy said he spoke with Georgieva and thanked her for “the allocation of $1.4 billion of additional support. Discussed future cooperation to increase Ukraine’s financial stability.”

It was not immediately clear if Zelenskiy was referring to the IMF staff proposal discussed by the board on Monday.

Source: Reuters

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