Categories: International

IMF board approves $1.4 billion emergency support for Ukraine

The International Monetary Fund (IMF) has approved $1.4 billion in emergency support for Ukraine to finance expenditures and shore up the balance of payments. Ukraine has turned to financing from allies and international institutions to support its economy after the Russian invasion began on February 24.

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The disbursement under the IMF’s Rapid Financing Instrument (RFI), equivalent to 50% of Ukraine’s quota in the IMF, will help fund urgent spending needs in the short term, while helping to catalyze financing from other partners.

Important takeaways for all competitive exams:

Ukraine Capital: Kyiv;
Ukraine Currency: Ukrainian hryvnia;
Ukraine President: Volodymyr Zelenskyy;
Ukraine Prime minister: Denys Shmyhal.

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Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.