International Monetary Fund (IMF) chief Kristalina Georgieva is confident that EU and US aid pledges to support Ukraine in 2023 will be enough if the war doesn’t escalate further. “Yes, we would enter 2023 with enough financial support for Ukraine,” Georgieva said in Brussels today.
“If we look at the next year, the numbers are remarkable,” said the IMF chief. The US and EU have pledged new funds to keep the Ukrainian budget afloat. However, Georgieva also stressed that the outlook for Ukraine is very uncertain.
Scholz called for a “Marshall Plan”
Due to the Russian war of aggression, Ukraine’s financial situation is catastrophic. Ukrainian President Volodymyr Zelenskyy therefore appealed to international donors to cover the country’s budget deficit of around €38 billion. At an international conference in Berlin this week, German Chancellor Olaf Scholz (SPD) called for a “Marshall Plan” for the reconstruction of Ukraine.
As Georgieva points out, against a backdrop of high uncertainty, the IMF puts Ukraine’s monthly financing needs for 2023 at $3-4 billion, and possibly $5 billion if the ravages of war escalate.