IMF: Ukraine needs up to $48B in funding this year

Ukraine needs between $40 billion to $48 billion of funding this year in order for its economy to function, the head of the International Monetary Fund told a conference in Dubai, Report informs referring to Bloomberg.

The fund is working on a program with Ukraine and has been supporting it in running a “war economy,” IMF Managing Director Kristalina Georgieva said. The US and European Union are involved.

“I am full of admiration for the Ukrainian authorities,” she said. She described hearing sirens and Ukrainian officials run for cover during their virtual meetings with the Washington-based lender.