Yellen calls for “significant, predictable, and timely” Ukraine help.
On Wednesday, U.S. Treasury Secretary Janet Yellen praised Ukraine’s solid governance and anticorruption efforts and urged continuing help.
Yellen, who surprised Kyiv in February, opened a ministerial discussion on Ukraine at the IMF’s spring meetings, where Ukrainian President Volodymyr Zelenskiy also spoke.
Supporting Ukraine requires teamwork. “We welcome our allies and partners’ significant, predictable, and timely assistance and urge all of us to continue doing so,” Yellen added.
On Monday, a senior Treasury official said the U.S. had given Ukraine up to $50 billion in aid in the previous year, including over $23 billion in financial support to maintain government services.
Zelenskiy’s government “provided a steady hand for Ukraine amid Russia’s horrific war,” Yellen remarked.
I applaud your commitment to good government and anti-corruption. “Your commitment to responsible international assistance is essential,” Yellen remarked.
She said the U.S. will offer funds until September to help Ukraine’s energy security and early recovery but gave no details.
On Tuesday, World Bank President David Malpass termed the “daunting” demands of reconstructing Ukraine a reason for Western European countries to join international financial organizations.
Recent research indicated that rebuilding Ukraine’s economy will cost $411 billion—2.6 times its expected 2022 GDP. The World Bank, U.N., European Commission, and Ukraine’s forecast increased dramatically from $349 billion last September.
Yellen said the IMF’s $15.6 billion credit program will anchor foreign help “in a sound macroeconomic framework and catalyze further reforms essential to Ukraine’s recovery.”
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