Ukraine needs about $3 billion in external financing every month - Marchenko
In 2024, Ukraine’s monthly need for external financing will reach about $3 billion.
This was stated by Finance Minister Serhii Marchenko at an online meeting of the G7 financial bloc, Censor.NET reports citing the press service of the Ministry of Finance.
"In 2023, Ukraine's financial system was stable, and the economy recovered faster than expected. The balanced policy of the Government of Ukraine, together with the consistent support of international partners, played a crucial role in our achievements. It is important to maintain this trend. In 2024, the monthly need for external financing will reach about USD 3 billion. Further rhythmic budgetary assistance is vital to ensure social spending. We cannot allow a delay in attracting external financing," the Minister explained.
The Ministry of Finance is reported to have taken the necessary measures to maintain financial stability in early 2024 amid uncertainty over international assistance. The effectiveness of these decisions was noted by IMF experts during a recent mission. These include a series of measures to maximize state budget revenues and to boost the domestic debt market.
"In any scenario, international cooperation and coordination of efforts are essential for Ukraine's victory in the war. The situation in which Ukraine finds itself is unprecedented in recent decades: the aggressor has significant resources and is strengthening its cooperation with countries against which the G7 has imposed sanctions. The assistance of international donors is not just a financial issue, but an opportunity to support millions of Ukrainians in need and save the lives of thousands of soldiers," Marchenko emphasized.
The event was attended by finance ministers and central bank governors of the G7 member states, as well as the leadership of the IMF, World Bank, European Commission, and OECD.
