Advisors to the leaders of 7 countries, including the United States, Great Britain, Turkey, Poland, Germany, France and Israel, are ready to discuss a list of security guarantees for Ukraine, Ukrainian President Volodymyr Zelenskyy said.
“The meeting will definitely take place, because it was confirmed by representatives of the guarantor countries. Of the future. This applies to the United States, Great Britain, Turkey, Poland, Germany, France, Israel. These are not all guarantors, but I named those countries that are already ready to come and discuss a list of security guarantees,” Zelensky said in an interview with the Turkish Haberturk TV channel.
He stressed that it is important for Ukraine to know what kind of guarantees these countries are willing to accept.
“They have different views. Some of them are ready for anything, for full support. And some not for full support. Therefore, we need a joint meeting with these countries at the level of advisers who will talk about a future document – guarantees of our sovereignty, independence and territorial integrity “, – he said, adding that, “when Ukraine is satisfied with everything in the document, a meeting with the Russian side will take place.”
The head of state also noted that a meeting with the advisers of these 7 countries should be held in the near future. “And then – just as quickly – with Russia, because there is a war going on in Ukraine,” he added.
EXANTE, an international broker licensed in Cyprus and active in the Ukrainian markets, announced a $1 million donation to UNICEF to help children and families affected by the ongoing war in Ukraine.
“Our company was founded on the belief that freedom is an inherent human right, and at times like these it’s more important than ever. As a result, our shareholders feel compelled to take action – after all, actions speak louder than words. Whilst we cannot change what’s happening, together with our colleagues and clients we hope that the money donated will truly make a difference and help the thousands of children and families affected,” Alexey Kirienko, the CEO of EXANTE, said.
“UNICEF is rapidly scaling up its humanitarian response in Ukraine and in neighboring countries. To date, UNICEF has delivered 858 tonnes of emergency supplies, including health supplies, hygiene kits, education and recreation supplies for children and adolescents, in addition to winter clothing,” the report says.
“UNICEF is appealing for $349 million to provide critical life-saving support for children and their families. This includes $ 276 million to respond to immediate needs within Ukraine and $ 73 million for humanitarian needs in neighboring countries. This funding will help to support over 3.5 million people, including 2.2 million children,” it states.
Founded in 2011, EXANTE describes itself as a wealth-tech company providing centralized investment solutions and infrastructure for financial institutions. The company employs over 500 people and manages $1.6 billion.
The volume of public debt of all countries of the world in 2022 will increase by 9.5% and reach a record high of $71.6 trillion, according to the Sovereign Debt Index study by the British management company Janus Henderson.
In 2021, global public debt rose by 7.8% to $65.4 trillion, with an increase in borrowing observed in all countries covered in the study.
In the meantime, the total cost of servicing the debt has fallen to $1.01 trillion, that is, the actual rate was only 1.6%, according to CNBC research.
In 2022, global public debt service spending is expected to jump 14.5% to $1.16 trillion.
Analysts Janus Henderson believe that the UK will face higher borrowing costs than other countries due to higher interest rates of the Bank of England and a significant amount of government debt with floating rates tied to inflation. Domestic consumer prices jumped 6.2% year-on-year in February, the fastest pace since March 1992.
European countries will also actively place government bonds due to the need to sharply increase government spending on defense in light of the military events in Ukraine, said Bethany Payne, portfolio manager at the company.
The deficit of the consolidated balance of payments of Ukraine in February 2022 amounted to $1.5 billion, while in February 2021 the deficit was $28 million, the National Bank of Ukraine (NBU) reported on its website.
According to his data, the current account surplus in February 2022 amounted to $383 million, while in February 2021 the surplus amounted to $134 million.
The NBU also reported that exports and imports of goods in February increased by 31.1% and 30.7%, respectively.
The main factor in the growth of export volumes to $5.4 billion was the growth of food products by 40.7%, due to the growth in grain exports (by 1.8 times). There was also an increase in exports of ferrous and non-ferrous metals – by 31%, chemical industry products – by 42.4%, wood and wood products – by 14.4%, industrial products – by 1.5 times and engineering products – by 1, 5 times.
At the same time, exports of mineral products (including ores) decreased by 15.8% in February.
The volume of imports of goods for the specified period increased to $6 billion, including energy imports – 1.6 times due to the import of oil products and coal, and non-energy imports – by 24.2%. In particular, imports of industrial products increased by 1.1%, by 22.4% – engineering products, by 3% – food products, by 31.8% – ferrous and non-ferrous metals, by 27.5% – chemical industry products, and wood and wood products – by 28.8%.
In addition, according to the National Bank, the surplus in trade in services in February 2022 increased to $453 million from $298 million in February 2021.
The surplus in the balance of primary income in February 2022 amounted to $83 million (in February 2021, the deficit was $5 million). Receipts under the item “remuneration” decreased by 4%, and payments on income from investments – by 14.9%.
Net lending to the outside world (total balance of the current account and capital account) in February last year amounted to $386 million compared to $136 million in February of the previous year.
Net outflow from the financial account was $1.9 billion (February 2021 net outflow was $164 million), driven by an outflow of funds from private sector operations.
The net outflow from public sector operations amounted to $476 million (in February 2021, an outflow of $155 million). Net payments to non-residents on government bonds amounted to $240 million, on Eurobonds – $112 million, and on loans to international partners – $108 million.
The NBU estimated the net inflow of foreign direct investment at $57 million, while in February of the previous year this figure was $153 million.
As the regulator pointed out, the net reduction in the external position of the country’s banking system in operations with portfolio and other investments amounted to $210 million. It was due to a decrease in the external position in the “currency and deposits” item by $255 million.
The external position of the real sector (excluding foreign direct investment) in February 2022 increased by $1.9 billion. It was due to an increase in net external debt on trade loans by $776 million, an increase in cash outside banks by $973 million, a net increase in debt on loans and borrowings for $26 million.
As of March 1, 2022, the volume of international reserves amounted to $27.6 billion, which provides import financing for 3.8 months.
As reported, the consolidated balance of payments of Ukraine in 2021 was reduced to a surplus of $487 million, which is 4 times less than in 2020. The current account deficit of the balance of payments amounted to $2.1 billion, while in 2020 there was a surplus of this indicator in the amount of $5.3 billion.
President of the European Council Charles Michel has said that “massive investments” will be sent to rebuild Ukraine after the war, which was waged against it by Russia.
“We will continue to assist Ukraine with political, financial, humanitarian and material support. We’ve agreed to develop a Ukraine development trust fund. In the short term, it will help support Ukraine, and in the long term, it will provide massive investments to rebuild economy and infrastructure,” he said, speaking at the European Parliament on Wednesday.
The President of the European Council also assured that the EU’s support for Ukraine is “rock solid.” “We are more united than ever. United in sanctions on Russia, united in putting pressure on the Kremlin, united in supporting Ukraine as much as we can. We know we are… with the US, Canada, Japan, Australia, the Republic of Korea, the UK and many countries of the world, we are ready… [to bear the burden of] the sanctions. And, most importantly, our unity, our EU unity, our Atlantic unity, our determination. These are our main assets to end the war, to stop these atrocities and to help rebuild Ukraine,” Michel said.
President of Ukraine Volodymyr Zelensky, speaking on Tuesday via video link at the UN Security Council, said that this organization cannot effectively ensure peace.
Citing numerous facts proving Russia’s involvement in the mass death of citizens and the destruction of cities in Ukraine, Zelensky asked the question “Where is the peace that the UN was created to guarantee?”
“Obviously, the key peace institution, which should ensure that any aggressors are forced into peace, simply cannot work effectively,” Zelensky said.
“The world saw what the Russian military did in Bucha while they kept the city in occupation. The world has yet to see what they did in other occupied places and regions. The geography is different, but the cruelty is the same and responsibility must be inevitable,” the president said.
