Russian Military Invasion Drags Ukraine Into Debt Of $1.4 Billion To IMF

Illustration (Photo: Doc. Antara)

JAKARTA – The military crisis that occurred in Eastern Europe between Russia and Ukraine had a serious impact on the economic sector. One of the countries involved in the conflict, namely Ukraine, is reported to have submitted a request for disbursement of financing (debt) to the International Monetary Fund (IMF).

This was confirmed directly by IMF Managing Director Kristalina Georgieva in her official report today, Indonesian time.

"Ukraine has requested emergency financing of $1.4 billion under the IMF's Rapid Financing Instrument," said Kristalina on Sunday, March 6.

It was stated that the IMF had approved the application for Ukrainian government debt which is now being led by President Volodymyr Zelensky. In fact, the IMF itself promised that the billions of dollars would be disbursed in the near future before the middle of this month had passed.

"We anticipate bringing this request to the Executive Board for consideration as early as next week," Kristalina added.

Based on information compiled by the editors, it is stated that Ukraine has at least lost an economic potential of US$280 billion (Rp4,000 trillion) of gross domestic product (GDP) since fighting with Russia in recent years. This was stated by The Economics and Business Research in a recent report.

In a statement, Ukrainian President Volodymyr Zelensky revealed that his party had poured $12.5 billion into resisting Russian attacks in the past week.

Conditions of economic uncertainty intensified when the country's big businessmen chose to leave the country amid President Zelensky's call, calling on his people not to panic.