War-ravaged Ukraine will ask for loan from IMF

War-ravaged Ukraine is about to ask for a loan from the IMF to improve the country's condition. Several leaders sent by Zelensky will meet IMF officials in Poland's capital Warsaw this week. Ukraine's Finance Minister Sergei Marchenko had said earlier this month that Ukraine's financial deficit would increase to more than Rs 3 lakh crore this year.
81 thousand crores received from America as a grant and 1 lakh crores received from European Union will also not be able to compensate for this. Despite getting help from both these places, Ukraine will need Rs 82 thousand crore.
IMF has also told that they will hold meetings with Ukrainian leaders. However, the officials of the institution refused to give more information than this. Only a few weeks after the war, the IMF approved a loan of 11 thousand crores to Ukraine. Along with this, it was said to give an additional 10 thousand crores in October.
Before the start of the war, the financial loss of Ukraine was 38 thousand crores, which increased to 2 lakh crores in the year 2022. Ukraine's economy decreased by 303% in 2022 due to Russia's intrusion. Whereas a jump of 266 percent was recorded in inflation.
The Russia-Ukraine war had an impact on the economy of countries around the world. Western countries have imposed economic sanctions to destroy the 143 lakh crore Russian economy. Since February, the US, Europe and their allies have imposed extraordinary sanctions on thousands of Russian companies and individuals. Half of Russia's Rs 46 lakh crore cash ie Rs 23 lakh crore is lying idle. After the completion of 6 months of the war, the IMF had estimated a decline of up to 6 percent in Russia's economy.