BENGALURU: G7 finance chiefs pressed the IMF on Thursday to urgently provide more aid to war-stricken Ukraine on the eve of the first anniversary of Russia's invasion.
French Finance Minister Bruno Le Maire previously said he wanted the IMF to provide US$15 billion over four years. It added that sanctions so far have"significantly undermined Russia's capacity to wage its illegal war" and that the G7 would"take further actions as needed". Export controls were making it"extremely difficult" for Moscow to replenish its munitions and were contributing to an"exodus" of Russian scientists and entrepreneurs as well as foreign investment.
"The Russian economy and management system turned out to be much stronger than the West believed," President Vladimir Putin said Tuesday, adding that the West wants to make ordinary Russians"suffer".Yellen said the global economy was"in a better place" than predicted a few months ago in the wake of Russia's invasion and the resulting explosion in prices for fuel, food and other essentials.
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