3/9, 11:31 AM (Source: TeleTrader)
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IMF grants Ukraine $1.4B emergency aid package

The International Monetary Fund (IMF) has approved a $1.4 billion emergency support package to Ukraine, National Bank of Ukraine Governor Kyrylo Shevchenko (pictured) said in a statement on Wednesday.

The move was announced the day prior by IMF Managing Director Kristalina Georgieva, who warned that a recession is "a very likely outcome" of the conflict and the ensuing economic sanctions.

"We are immensely grateful to the IMF for its prompt response to our request. We look forward to completing all required procedures as soon as possible," Shevchenko's statement read.

Baha Breaking News (BBN) / BU