IMF's Georgieva says aid for Ukraine should come as grants, not loans

International Monetary Fund Managing Director Kristalina Georgieva said on Thursday that funds to Ukraine to cover its estimated financial shortfall over the next couple of months should be provided as grants to avoid overburdening the country with debt.

International Monetary Fund Managing Director Kristalina Georgieva said on Thursday that funds to Ukraine to cover its estimated financial shortfall over the next couple of months should be provided as grants to avoid overburdening the country with debt. "We are of the view that as much as possible it should come from grants rather than from loans," Georgieva said, of the proposed aid that would amount to roughly $5 billion.

"In the immediate future, Ukraine would have dramatically reduced revenues and even after the war would be faced with very high bills related to reconstruction. So piling more debt on top of the one they already carry...it's just not wise," she told a news conference at the International Monetary Fund and World Bank spring meetings.