IMF "Full-scale Launch of Fund Program for Ukraine Reconstruction Planned"

Ukrainian resident standing in front of a building destroyed by war
[Image source=AP Yonhap News]

[Asia Economy Reporter Jeong Dong-hoon] Major foreign media reported that the International Monetary Fund (IMF) has decided to significantly strengthen financial support for the reconstruction of Ukraine.

Kristalina Georgieva, IMF Managing Director, stated on the 14th (local time) at an event hosted by the U.S. think tank Center for Global Development (CGD), "We have agreed with Ukrainian President Volodymyr Zelensky to expand IMF support for Ukraine's reconstruction and to actively launch a full-fledged fund program for this purpose."

Georgieva explained that next week, IMF officials will meet with Ukrainian authorities to begin detailed consultations for this.

In addition, the IMF is working to secure board approval for the proposed "Food Shock Window" program, which aims to expand emergency support targets to help countries, including Ukraine, facing difficulties such as international balance of payments imbalances due to the current war, she added.

Georgieva predicted that if this program is activated, funds of a scale similar to the $1.4 billion (2 trillion KRW) provided to Ukraine immediately after the war in March this year could be supported.

She explained, "I discussed with President Zelensky whether there is a way to help Ukraine more quickly while also supporting Ukraine's reconstruction in a long-term and comprehensive manner. Ultimately, that means creating a full-fledged fund program."

Georgieva also conveyed that President Zelensky showed interest in whether cooperation with other international organizations could be possible regarding this fund to draw out policy support from Western countries.

This content was produced with the assistance of AI translation services.