Effects of the bombing in the center of Kharkiv, Ukraine, on March 9. Photo: Andrea Carrubba/Anadolu Agency via Getty Images
The International Monetary Fund's executive board approved disbursing $1.4 billion in emergency financing for Ukraine on Wednesday night to help offset the economic impacts of Russia's unprovoked invasion of Ukraine.
What they're saying: "The war in Ukraine is resulting in tragic loss of life and human suffering. While the outlook is subject to extraordinary uncertainty, the economic consequences are already very serious," noted the press release.
- The disbursement will "help meet urgent balance of payment needs arising from the impacts of the ongoing war and will provide critical support in the short term while playing a catalytic role for financing from other partners," it added.