The International Monetary Fund (IMF) has shifted the focus in discussions with the Ukrainian authorities from reforms to crisis management, IMF Managing Director Kristalina Georgieva has said.

"...We have changed the focus of our ongoing discussions with the Ukrainian authorities from 'reforms' to 'crisis management'," the IMF quoted her as saying at the FT Climate Capital Conference.

She added that on March 9, the IMF's executive board is due to consider a proposal to approve $1.4 billion in support for Ukraine, to help it cope with the shock caused by the war with Russia.

The IMF staff is in daily contact the key people on the Ukrainian side, Georgieva said. "And I can tell you, it's so impressive to see how they are working together with dedication and professionalism, despite sirens that can be heard even as discussions go on," the IMF director said.

The IMF also is helping to mobilize financial support and resources, she said.

"The IMF and the World Bank are the two institutions that are often tasked to channel coordinated assistance to countries in need. Today we need to help support Ukraine to get through this shock, but there will come a moment of reconstruction for Ukraine. And at that point, President Zelensky told me, he wants the Fund to take the lead to make sure this happens," Georgieva said.

Speaking about the possible impact of the sanctions on the Russian economy, she said: "We don't yet have an accurate estimate of how much the Russian economy could shrink. But certainly, a recession is on the horizon as a very likely outcome for Russia."