Members of the delegation of the financial bloc of the Ukrainian government headed by Ukrainian Prime Minister Denys Shmyhal will hold meetings on Thursday and Friday with American deputies and ministers as well as leaders of financial and humanitarian organizations during their visit to Washington.
“Today and tomorrow we are working in Washington. The plan includes participation in a ministerial-level meeting at The 2022 Spring Meetings of the International Monetary Fund and the World Bank. Meetings are also planned with representatives of Congress and U.S. ministers, heads of international financial and humanitarian organizations,” Shmyhal wrote on Telegram Thursday.
Earlier, the prime minister announced meetings in Washington of the financial bloc of the Ukrainian government with the International Monetary Fund, the World Bank and the U.S. government to raise additional funds “for the needs of the Ukrainian army, the Ukrainian economy and our people.” “In the coming months, the budget deficit could reach $5 billion, and therefore financial assistance from the West is needed now more than ever,” Shmyhal said.
The G-7 countries, together with the international community, are promising and are already providing Ukraine with significant additional support in the amount of more than $24 billion for 2022 and beyond, both financially and materially, their finance ministers and central bankers said in a statement. results of the meeting in Washington.
“Against the backdrop of the ongoing brutal Russian aggression, the accompanying suffering of the Ukrainian population, and the ongoing destruction of the country itself, we are ready to do more as needed,” the document, published on Thursday, said.
According to him, economic support for Ukraine from 2014 to 2021 exceeds $60 billion.
The statement also notes the importance of continuing close coordination of support for Ukraine and its neighboring countries.
“We call on all countries and international organizations to join our efforts to ensure adequate support for Ukraine in meeting its urgent needs and rebuilding its future,” the document emphasizes.
G-7 representatives welcomed the opening of the International Monetary Fund (IMF) Multi-Donor Account for Ukraine and the announcement of the European Union on the establishment of the Ukraine Solidarity Trust Fund, and support the World Bank Group Ukraine Support Package and the European Bank for Reconstruction and Development Sustainability Package .
The day before, IMF Managing Director Kristalina Georgieva said that Ukraine had applied to the Fund for support in covering the financial gap to keep the economy functioning in the amount of $5 billion a month for the next three months, and the IMF would assist in raising these funds.
According to the National Bank, the total international financial support for Ukraine since the beginning of the war amounted to $3.8 billion.
Economic Adviser to the President of Ukraine Oleg Ustenko, in an interview with The New Yorker last week, estimated the Ukrainian budget deficit in the coming months at about $8 billion a month and announced the desirability of partner assistance of $50 billion for six months. At the same time, Finance Minister Sergei Marchenko earlier predicted a state budget deficit for April-May of $5-7 billion a month compared to $2.7 billion in March.
The President of the General Council of Deputies of the District of Swabia of the Land of Bavaria (Germany) Martin Seiler arrived on a friendly visit to the Chernivtsi region.
This was announced in Telegram on Thursday morning by the head of the Chernivtsi Regional State Administration Serhiy Osachuk, posting a joint photo with Sailer in the building of the regional administration.
Details of joint events and topics of negotiations are not reported.
The State Customs Service will simplify the issuance of EUR.1 certificates for the export of goods for the period of martial law, the agency reported on its Telegram channel.
“For the period of martial law … the head of the State Customs Service instructed the heads of customs, under their personal responsibility, to ensure a simplified procedure for issuing certificates for the transport of EUR. relevant request from the customs administration of an EU country,” the agency said on Thursday.
Such certificates exempt from duties the import of goods into the EU, recalled the customs.
If there are any problematic issues regarding the issuance of these certificates, exporters can contact the relevant customs officers at (096) 133-22-79.
Ukraine has applied to the International Monetary Fund (IMF) for support in covering the financial gap to keep the economy functioning in the amount of $5 billion per month for the next three months, and the IMF will assist in raising these funds, said Fund Managing Director Kristalina Georgieva .
“The first priority is to provide support to fill this financial gap in Ukraine over the next three months,” she said at a press conference in Washington on Wednesday.
“Let me emphasize that this $5 billion is for keeping the economy functioning, not for Ukraine’s recovery needs, which will be huge,” Georgieva added.
She noted that the Fund has worked very closely with the Ministry of Finance of Ukraine regarding these estimates provided by them and there is some uncertainty about this amount, but, according to the IMF, it does not go beyond the likely needs of the country.
“What we are doing is working with our partners to ensure that this kind of support is mobilized through various channels and further work on detailing specific needs and how those needs can best be met,” the IMF chief said.
Georgieva recalled that the Fund has created and will administer a special administrative account to send money from donor countries to help Ukraine. “We already have one contribution to this effect and others can contribute. We look forward to it,” added the Managing Director.
She noted that such large funding for Ukraine is important for obvious reasons: most of the economy is not working, the Fund predicts about a 35% decline in GDP this year. “And so filling this financial gap is best done by relying on grant funding, and this is what we want to see in order to raise funds for Ukraine in search of financial support,” said Georgieva.
According to her, the IMF is already discussing a follow-up program for Ukraine.
“Of course, we have very high uncertainty right now, but it should not prevent us from starting work on a support package for Ukraine in the future,” Georgieva stressed.
She clarified that this program, which the Fund can begin to structure for the future, will not be submitted to the board of directors while hostilities are still ongoing. “Because it is unfair to expect the Ukrainian authorities to develop a massive package of reforms. They are doing the right thing now, focusing on what matters most at the moment, namely keeping the economy functioning, and they are doing a really good job,” said the head of the IMF , expressing admiration for the work of the Ukrainian economic bloc consisting of the Ministry of Finance and the National Bank to maintain macroeconomic and financial stability in the country at war.
As reported, on March 9, the IMF approved Ukraine’s request for $1.4 billion in emergency financing under the Rapid Financing Facility (RFI) and transferred the money to the country the next day.
Ukrainian Defense Minister Oleksiy Reznikov, in a phone conversation with Israeli Defense Minister Benny Gantz, discussed the threats to Ukraine, the right to self-defense and the importance of humanitarian assistance from Israel.
“Had a phone conversation with Minister of Defence of Israel Benny Gantz. We discussed existential threats to Ukraine and the right to self-defense. Among other things, the importance of humanitarian aid from Israel’s side has been discussed. Thank you for the support!” Reznikov said on his Twitter.
