IMF chief optimistic G7 funds for Ukraine can stave off hyperinflation
Reuters
Published May 19, 2022 08:12AM ET
KOENIGSWINTER, Germany (Reuters) - International Monetary Fund Managing Director Kristalina Georgieva said on Thursday she was "getting more optimistic" that a G7 agreement to provide new budget funding to Ukraine can be reached and can help the country avoid hyperinflation.
Georgieva said on the sidelines of a G7 finance ministers' and central bank governors' meeting that the main issue for the funding would be its timing - avoiding delays that may push the country into monetary financing, where its central bank effectively funds the government.
"You know, what happens if a country has to go into monetary financing. A war brings hyperinflation and then terrible, terrible, damage - which we think we can avoid," Georgieva said.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.