Ukraine's economy is expected to contract by 10% in 2022 as a result of Russia's invasion, but the outlook could worsen sharply if the conflict lasts longer, the International Monetary Fund said in a staff report released on Monday.
Now, the IMF said: "A deep recession and large reconstruction costs are to be expected, on the backdrop of a humanitarian crisis."
The IMF recently sent $1.4bn in emergency funds to Ukraine - the maximum allowed under its rules. Moreover, the World Bank said it would provide an additional $ 200 million in addition to the $ 723 million approved aid to Ukraine last week.
