IMF Says Ukraine's GDP May Reduce By A Third From Levels Before The War

People cross a destroyed bridge during evacuation from Irpin, city north of Kiev, March 6. Photo: AFP

Interfax Ukraine: Ukraine's GDP may reduce by third from pre-war - IMF head

The Ukrainian economy is suffering greatly from the war unleashed by Russia, the decline in its GDP could be a third of what it was before the war, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said in a Foreign Policy Live discussion on Tuesday.

The head of the IMF noted that the destruction of the Ukrainian economy breaks her heart and we will probably see a contraction that could be a third of what it was before the war.

She said that on Tuesday she spoke with a family of her relatives who remain in Kharkiv in a multi-storey building: their area was not bombed, but they hear bombs several times almost every day and suffered from a loss of water supply. Nevertheless, Georgieva said that the spirit of the Ukrainian people is incredible. There are very strong women in her family. And the message she has got from them is that they will win this war, she reported.

She recalled that the IMF immediately responded to Ukraine's request for $1.4 billion in emergency funding, which is necessary to keep the country functioning.

Read more ....

WNU Editor: My gut tells me that the IMF's projections are too optimistic. The Ukraine economy has collapsed. The National Bank's central reserves are almost zero. The banking/financial system is only functioning because of IMF emergency funding. There is no money to buy fuel, weapons and ammunition, medicines. Everything is now dependent on foreign humanitarian aid to take care of the civilian population, and U.S./EU military aid and supplies to keep the Ukraine army functioning.

from War News Updates https://ift.tt/XDOrAd2
via IFTTT

Comments

US And Russian Chiefs Of Staff Discuss Ukraine In Rare Phone Call

U.S. Chairman of the Joint Chiefs of Staff Gen. Mark Milley (left) and his Russian counterpart Valery Gerasimov (file photo) The Hill: Milley speaks with Russian counterpart for first time since start of war Chairman of the Joint Chiefs of Staff Gen. Mark Milley spoke with his Russian counterpart on Thursday, the first such conversation between the two since the Kremlin’s invasion of Ukraine began in late February, according to the Pentagon. Milley spoke by phone with Valery Gerasimov, chief of the Russian general staff, and they “discussed several security-related issues of concern and agreed to keep the lines of communication open,” Joint Staff spokesperson Col. Dave Butler said in a readout of the conversation. The Pentagon did not provide further information on the conversation. Read more .... WNU Editor: So much for the reports last week that Chief of the General Staff of the Armed Forces of Russia Valery Gerasimov was fired b...

Is Putin's Inner Circle Already In Discussions On Who Is Going To Replace Him?

Russian President Vladimir Putin leads a meeting on economic issues in Moscow on Monday. (Alexei Nikolsky, Sputnik, Kremlin Pool Photo via AP) Daily Beast: Putin’s Own Men Are Already Discussing Who Will Replace Him Three months into Vladimir Putin’s bloody “special operation” in Ukraine, his own men in the Kremlin are reportedly discussing who will replace him. That’s according to new reporting by the independent news outlet Meduza, which cited several sources close to the Russian presidential administration who said officials are increasingly fed up with Putin personally. Some of Putin’s own allies within the Kremlin walls have reportedly floated the idea of Moscow Mayor Sergei Sobyanin becoming his successor, or former President Dmitry Medvedev, who is now the deputy chairman of the Security Council. Sergei Kirienko, the first deputy chief of staff of the presidential administration, was also said to have been discussed as a contender. Read mor...

China's shipyard CSSC launches 1st Pakistani Hangor class submarine PNS Hangor

According to information published by the Pakistani MoD on April 26, 2024, the Hangor class submarine PNS Hangor was launched by the Chinese shipyard CSSC. This submarine is a part of the Hangor-class, which itself is based on the Yuan-class Type 039B submarines provided by China. Read full news at this link Hangor class submarine PNS Hangor. (Picture source: Pakistani MoD) Read more from World Defence News https://ift.tt/dgQWhs7 via IFTTT

MTQ News

Search This Blog