Ukrainian President discusses need for financial support with IMF’s Georgieva

Ukrainian President Volodymyr Zelenskiy attends a session of a parliament where British Prime Minister Boris Johnson addresses Ukrainian lawmakers via video link, as Russia’s attack on Ukraine continues, in Kyiv, Ukraine , May 3, 2022. Ukrainian Presidential Press Service/Handout via REUTERS/File Photo

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KYIV, May 16 (Reuters) – Ukrainian President Volodymyr Zelenskiy said on Monday he had discussed the need for financial support for Ukraine’s economy during a video conference with International Monetary Fund Managing Director Kristalina Georgieva .

“The IMF is our important partner. We look forward to continued fruitful joint work to maintain Ukraine’s financial stability,” Zelenskiy wrote on Twitter.

Zelenskiy’s office said in a statement after the videoconference that it had requested accelerated financial support for the country, which is trying to repel the February 24 Russian invasion.

He said the state budget faced a monthly shortfall of around $5 billion because the government had to increase war-related spending as revenues fell as many businesses closed. and stopped paying taxes.

Zelenskiy also stressed the importance of financial support to Ukraine from partner countries, including the United States, Canada, Japan and the European Union, his office said.

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Reporting by Natalia Zinets, Writing by Alexander Winning, Editing by Timothy Heritage, Tom Balmforth, William Maclean

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