IMF approves $1.4 billion Ukraine aid and BIS suspends Russia

Ukraine flag

The Bank for International Settlements suspended the Bank of Russia and the International Monetary Fund approved emergency financing for Ukraine.

The IMF’s executive board approved a rapid financing instrument programme worth $1.4 billion for Ukraine on March 9. It said the money would “help meet urgent financing needs and mitigate the economic impact of the war”.

IMF managing director Kristalina Georgieva called for more large-scale financial aid for Ukraine to “help fill the financing gap

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