Ukraine expects to receive another $15B from its partners by the end of 2024. The Ministry of Finance of Ukraine expects to receive more than $15B in foreign aid in the last two months of 2024. During October 21-26, the ministry’s team led by Minister Serhii Marchenko hel... #financialaidforUkraine #G7 #imf #IMFtranche #LoanForUkraine #RussianAssetsProfits #SerhiyMarchenko
The Ministry of Finance links the multibillion-dollar hole in the budget to delayed aid from the US and calls on the G7 to provide Ukraine with a $50B loan. Finance Minister Serhiy Marchenko has called on Ukraine’s Western allies to accelerate the $50B loan to Ukraine, arguing that delays in arms deliveries have led to a growing budget deficit, forc... #Creditors #G7 #imf #LoanForUkraine #RussianAssetsProfits #SerhiyMarchenko #UkraineBudget #UkraineBudgetDeficit
Given the war’s continuation, Ukraine will need up to $15B in additional funding next year. According to Finance Minister Serhiy Marchenko, Ukraine and the International Monetary Fund (IMF) estimate the country’s additional financial need for 2025 from Western partners at between $12B ... #imf #MilitaryLevy #SerhiyMarchenko #TaxesUkraine #UkraineBudget
The Ministry of Finance is ready for a compromise with the parliament regarding tax increases. According to Minister of Finance Serhii Marchenko, this strictly depends on the how the parliament plans to secure an additional ₴120B in revenue by the end of 2024. The Ministry of Finance has propos... #MilitaryLevy #PennyPritzker #SerhiyMarchenko #TaxesUkraine #UkraineBudget
Ukraine will receive $3.9B in direct budget support from the US, said Prime Minister of Ukraine Denys Shmyhal. He expressed hope that Ukraine will be able to receive $50B in 2025 through the G7 initiative to use the profits from frozen Russian assets. In addition, ... #DenysShmyhal #financialaidforUkraine #G7 #LoansForUkraine #RussianAssetsProfits #SerhiyMarchenko #UkraineBudget2024
Japan has already provided Ukraine with $6.3B since the beginning of the invasion: The Ministry of Finance anticipates continued support. The Minister of Finance of Ukraine, Serhii Marchenko, stated: “Ukraine is systematically strengthening its financial capacity, increasing the internal revenues of the state budget. At the same t... #financialaidforUkraine #imf #Japan #SerhiyMarchenko #SupportUkraine #UkraineBudget2024 #UkraineRecovery
The EIB will approve a €250M support package for Ukraine’s energy sector and allocate another €200M to modernize its public transport. The government of Ukraine and the EIB are working diligently to prepare new agreements for a €250M support package. “The EIB systematically supports Ukraine in priority area and continues to wor... #EIB #EnergyRestore #energyukraine #InvestmentsinUkraine #KyivPublicTransport #SerhiyMarchenko
Ukraine has fulfilled more than 50% of the IMF’s requirements and received $10.2B from the IMF since the beginning of the war. As Minister of Finance, Serhiy Marchenko noted: “The Government of Ukraine, the National Bank of Ukraine, and other authorities have so far implemented 23 structural beacons out of 37 stipulated... #financialaidforUkraine #imf #IMFStructuralBeacons #ReformsinUkraine #SerhiyMarchenko #UkraineBudget2024
The EBRD provides €200M to strengthen Ukraine’s energy security and will help increase the number of Ukrainian projects that are ready to attract foreign investment. €200M from EBRD will support Naftogaz of Ukraine in creating strategic reserves of natural gas and supporting energy security. The corresponding guarantee agreement was signed by the Minister of Finan... #ArvidTuerkner #ebrd #EnergyIndependence #InvestmentsinUkraine #Naftogaz #SerhiyMarchenko #UkraineFacility
Ukrainian eurobonds drop in value following creditors’ refusal to write part of the debt off. The value of Ukrainian Eurobonds fell during trading on June 17, showing one of the worst performances for emerging markets. The country’s eurobonds weakened across the curve, with bonds maturin... #DebtRestructuring #Eurobond #financeUkraine #SerhiyMarchenko #UkraineBond #UkraineBudget
The G7 officially announced a $50B loan secured by Russian assets for Ukraine. Following the summit, the G7 leaders adopted a declaration outlining the details of the mechanism through which Ukraine will receive up to $50B in aid secured by frozen Russian assets. The leaders of ... #G7 #LoansForUkraine #ReparationsForUkraine #RussianAssetsProfits #SerhiyMarchenko #UkraineBudget
It is too early to talk about the state budget deficit in 2025, and the government is looking for additional funding. Finance Minister Serhiy Marchenko said that it is too early to talk about the extent of next year’s budget deficit because everything will depend on the intensity of military operations. In addition, ... #DenysShmyhal #SerhiyMarchenko #UkraineBudget2024 #UkraineBudgetDeficit
Ukraine has a $5B deficit in its budget for weapon purchases, so the government is preparing to raise taxes. Ukraine’s state budget has an approximate $5B shortfall of what is needed to purchase weapons, Minister of Finance Serhiy Marchenko said, because over the past six months, Ukraine has received minimal... #SerhiyMarchenko #TaxesinUkraine #UkraineBudget2024 #UkraineDefensePurchases #WarinUkraine
The IMF expects Ukraine’s GDP to grow by 3.2% this year. Next year, Ukraine’s GDP growth will be 6.5%, according to the World Economic Outlook report. According to the IMF forecast, consumer inflation in Ukraine will decrease from 12.9% in 2023 to 6.4... #EFFprogram #GDPinUkraine #imf #SerhiyMarchenko #UkraineEconomicForecast #UkraineEconomy
Ukraine awaits a decision on a new IMF tranche on March 21 and $10B in external financing in March-April. The National Bank assumes that Ukraine will receive over $10B in external funding in March-April. A favorable decision by the IMF board of directors will allow Ukraine to receive the fourth tranche of... #EFFprogram #financialaidforUkraine #imf #SerhiyMarchenko #UkraineFacility
The European Parliament approved the allocation of €50B for Ukraine over four years. However, the €50B EU program will receive final approval in April. “The regulations for disbursement of funds under the EU program contain final conditions, which will be approved by the governm... #EUfinancialAid #EuropeanParliament #SerhiyMarchenko #UkraineBudget2024 #UkraineFacility #YuliyaSvyridenko
The Minister of Finance summarized this year’s budget financing and outlined the prospects for the following years. In 2023, Ukraine attracted $42B through external financing just to cover budget needs and support a record amount of borrowing on the domestic market, Minister of Finance Serhiy Marchenko said. This a... #financialaidforUkraine #SerhiyMarchenko #UkraineBudget2024 #UkraineEconomy #UkraineFacility
The government and the NBU predict an increase in the cost of living in Ukraine. The head of the NBU, Andriy Pyshnyi, said that product prices will rise sharply at the beginning of January. For the first month of the year, growth will be, on average, 5%. As for causes, first, the ... #AndriiPyshnyi #InflationinUkraine #nbu #pricesinUkraine #SerhiyMarchenko #UkraineEconomy
The Ministry of Finance has postponed the repayment of Ukraine’s foreign debts, which will save up to $15B. Finance Minister Serhiy Marchenko signed an amendment to the Memorandum of Understanding that postpones state and state-guaranteed debt payments with a group of official creditors from the G7 and Pari... #nbu #SerhiyMarchenko #ukrainedebt #UkraineDebtRepayment
Ukraine launches Plan B due to delayed funding from Western allies. Finance Minister Serhii Marchenko noted that the ministry is confident of receiving Western aid in 2024 but not in January and February. The EU will consider financial assistance for Ukraine on Februa... #financeUkraine #financialaidforUkraine #SerhiyMarchenko #SupportUkraine #UkraineBudget2024
Ukraine announced a $4B reduction in external financing needs for 2024. The government of Ukraine reduced the amount from $41B to $37.3B, Minister of Finance Serhii Marchenko said during a meeting of the financial leaders from the G7 countries, EU leadership, the IMF, and... #financialaidforUkraine #SerhiyMarchenko #UkraineBudget2024 #Zelenskyy
Without international financial support, Ukraine will face a $29B budget deficit next year, and the EU will also suffer. The Ukrainian Minister of Finance, Serhiy Marchenko, emphasized the importance of maintaining macroeconomic stability because Ukraine may also face an economic crisis and additional military conflict.... #financialaidforUkraine #SerhiyMarchenko #SupportUkraine #UkraineBudget #UkraineBudgetDeficit #UkraineFacility
Even after victory, Ukraine will need international aid to survive. As Minister of Finance Serhiy Marchenko said, two fundamental ways to reduce this dependence in Ukraine are increasing economic output and winning the war. “But increasing the domestic market vo... #financialaidforUkraine #SerhiyMarchenko #SupportUkraine #UkraineEconomy #UkraineRecovery
Ukraine presents the G7 financial block with its economic prospects, which the IMF assesses positively. Ukraine’s economy is showing stability during the current year, and GDP growth is forecast to be 4.7%, said Finance Minister Serhiy Marchenko. “Inflation is falling faster than expected: 7... #AlfredKammer #GDPinUkraine #imf #InflationinUkraine #SerhiyMarchenko #UkraineEconomy
Private investment can provide a third of Ukraine’s needs for recovery, said the president of the World Bank Group, Ajay Banga. He also noted that the World Bank positively assesses Ukraine’s course on implementing reforms. “The Minister of Finance, Mr. Marche... #AjayBanga #InvestmentsinUkraine #SerhiyMarchenko #UkraineEconomy #UkraineRecovery #worldbank
MIGA has provided Ukraine with almost $200M in guarantees. Since the beginning of the Russian invasion, MIGA has provided Ukraine with guarantees totaling $196M, noted Minister of Finance Serhiy Marchenko. Also, MIGA contributed to creating the SURE war risk ... #MIGA #MilitaryRiskInsurance #SerhiyMarchenko #SURE
Funding of the state budget, recovery, and the €50B Plan for Ukraine have been discussed at the Multi-Agency Donor Coordination Platform. On September 26, the sixth meeting of the Steering Committee of the Platform of Donors for Ukraine was held in Brussels. Minister of Finance of Ukraine Serhiy Marchenko emphasized that the need for in... #OleksandrKubrakov #SerhiyMarchenko #UkraineFacility #UkraineReconstruction #YuliyaSvyridenko
Ukraine is preparing for the second revision of its program with the IMF. A review of the EFF program is expected in October, said the head of the Ministry of Finance, Serhii Marchenko, at the EBA Global Outlook meeting. According to the minister, it is necessary to demonst... #EFFprogram #imf #IMFprogramforUkraine #SerhiyMarchenko
Ukraine expects to receive another $3.3B in budget support from the US by the end of the year. According to the Minister of Finance of Ukraine, Serhiy Marchenko, the Ministry of Finance is counting on the same amount of financial assistance from the US in 2024 as it received this year. The mini... #financialaidforUkraine #SerhiyMarchenko #UkraineBudget #USsupportsUkraine
The Ministry of Finance of Ukraine also “positively” revised its forecast for Ukraine’s GDP. According to 2023’s activity, Ukraine’s GDP will grow by more than 3%, Minister of Finance Serhii Marchenko said. “The balance of payments has been adjusted thanks to external infusi... #EUEconomy #GDPinUkraine #nbu #SerhiyMarchenko #UkraineEconomy
Ukraine will start raising taxes on banks first if the IMF requests higher taxes. As of today, the Ministry of Finance does not foresee changes in the tax system anytime soon, and there is no need to talk about tax increases, Minister of Finance Serhiy Marchenko said at the EBA Glo... #financeUkraine #imf #SerhiyMarchenko #TaxesinUkraine #UkrainianBanks
In 2024, military expenditures will remain at this year’s level, as will the need for continued international support, noted Finance Minister Serhiy Marchenko. Next year Ukraine will need more than $40B in international aid. Ukraine needs $42B in foreign financing ... #financialaidforUkraine #SerhiyMarchenko #UkraineBudget #UkraineBudgetRevenue
The EU has presented its conditions for the new €50B financing package for Ukraine. The country’s authorities must fulfill several requirements to implement the Financial Instrument for Ukraine (Ukraine Facility) from the EU, which provides financing of up to €50B for four year... #EUfinancialAid #InvestmentsinUkraine #SerhiyMarchenko #UkraineFacility
Ukraine has already received $22B from the World Bank and donor countries. Before the start of the full-scale war the World Bank mobilized $34B to support Ukraine, over $22B of which Kyiv has already received. This was discussed during a working visit to Washington by the Mi... #AnnaBjerde #AntonellaBassani #financialaidforUkraine #SerhiyMarchenko #WorldBankGroup
The Minister of Finance of Ukraine met with representatives of the World Bank, IMF, and IFC to discuss funding for the reconstruction. Serhii Marchenko discussed this during the meetings of the member countries of the IMF and the World Bank in Montenegro. He reminded the participants that Ukraine needs $14.1B for recovery this year i... #AntonellaBassani #InvestmentsinUkraine #SerhiyMarchenko #UkraineReconstruction #UkraineRecovery
Ukraine lacks $6.5B for rapid reconstruction, said Minister of Finance Serhii Marchenko. He notes that of the $14B needed for rapid reconstruction, $3.3B is already in the budget. There are also stated intentions of partners to finance these costs. In particular, the US will allocate $2.3... #financialaidforUkraine #SerhiyMarchenko #UkraineReconstruction #UkraineRecovery
Washington and Kyiv emphasize strengthening sanctions due to Russia’s ability to circumvent them. In Japan during a meeting with finance ministers and heads of central banks from the G7 countries, US Treasury Secretary Janet Yellen tried to convince the allies to help strengthen sanctions against ... #G7Summit #JanetYellen #SanctionsAgainstRussia #SerhiyMarchenko
Ukraine will receive $11B for recovery by summer and is counting on additional aid for $2B. Minister of Finance Serhiy Marchenko notes that the total recovery needs this year are $14B, with the state budget providing $3.3B. Discussions are ongoing regarding $1.5B from the US, which has also ... #financialaidforUkraine #SerhiyMarchenko #UkraineRecovery
EU sent the third €1.5B tranche of microfinance aid, increasing the total aid to €6B in 2023. Previously, Ukraine received the first tranche of €3B in January 2023, and the state budget received the second tranche of €1.5B in March. Thus, the volume of direct 2023 budget support from the EU ha... #EUfinancialAid #SerhiyMarchenko #UrsulavonderLeyen
Ukraine’s Ministry of Finance and the IFC will expand the public-private partnership to rebuild and support Ukrainian businesses. On April 10, Minister of Finance of Ukraine Serhiy Marchenko met with the International Finance Corporation (IFC) Director Makhtar Diop. The parties discussed the prospects of expanding cooperation be... #ifc #MakhtarDiop #SerhiyMarchenko
The Government of Ukraine approved a memorandum with the IMF and its G7 creditors – loan guarantees and postponement of debt payments until 2027. The Cabinet of Ministers of Ukraine approved the government’s and the National Bank’s draft letter of intent to the IMF and the draft Memorandum on Economic and Financial Policy. Minister ... #IMFandUkraine #SerhiyMarchenko #UkraineDebtPayment
The Ministry of Finance demands Russia be cut off from access to the global economy. Ukraine’s Minister of Finance, Serhiy Marchenko, emphasized that Russia bears full responsibility for its criminal actions against the world economic system. The war against Ukraine deepens the global... #FATFwithoutRussia #SanctionsAgainstRussia #SerhiyMarchenko
Ukraine will negotiate a full-fledged program with the IMF. Ukraine expects to complete its monitoring program with the involvement of the IMF’s Board of Directors and to start negotiations on a full-fledged program in the second quarter. This is necessary to ... #financialaidforUkraine #IMFprogramforUkraine #SerhiyMarchenko #UkraineBudgetDeficit
Japan has postponed four loan payments from Ukraine. On January 16, the Minister of Finance of Ukraine, Serhiy Marchenko, at a meeting with the Ambassador of Japan to Ukraine, Kuninori Matsuda, signed an agreement on the payment postponement for the rep... #KuninoriMatsuda #SerhiyMarchenko #UkraineDebtPayment #UkraineLoans
Ukraine needs a new funding mechanism and expansion of existing financial support because the war is dragging on. As the war continues, a new tool similar to the Rammstein format is needed, according to the Minister of Finance of Ukraine, Serhiy Marchenko. According to him, grants from the US and the new microfin... #FinancialRamstein #FinancialSupportforUkraine #SerhiyMarchenko
Next month, Ukraine will receive the first tranche of the new EU microfinance aid package. According to the Ukrainian Ministry of Finance, Ukraine will receive the first tranche of €18B in EU macro-financial assistance in January 2023. On December 10, the Council of the European Union suppo... #EUfinancialAid #financialaidforUkraine #SerhiyMarchenko
A gap between the financial contributions of Ukraine’s allies and its financial commitments complicates the state budget deficit. The first quarter of 2023 is currently the most difficult challenge for Ukraine as far as covering the budget deficit due to the big difference between partners’ commitments to financial support and t... #InflationinUkraine #nbu #SerhiyMarchenko #UkraineBudgetDeficit
Minister of Finance of Ukraine Serhiy Marchenko meets with the Head of the Development Bank of the Council of Europe, Carlo Monticelli, to discuss the procedure for Ukraine joining the CEB, the Ministry of Finance reported. In particular, further procedural steps that the Ukrainian side must take to become a member of the Bank were discussed. Ukraine has already created an Interdepartmen... #CarloMonticelli #CEB #SerhiyMarchenko #UkraineJoiningTheCEB
In 2023, Ukraine’s Minister of Finance will head the World Bank’s Board of Governors and the IMF for the first time in history. The leading member countries of the World Bank Group and the International Monetary Fund have elected the Minister of Finance of Ukraine, Serhiy Marchenko, as the Chairman of the Board of Governors of... #imf #SerhiyMarchenko #WorldBankGroup
Ukraine and the World Bank have discussed the creation of a new mechanism for attracting funds for Ukraine’s reconstruction. Minister of Finance of Ukraine Serhiy Marchenko met with the World Bank Vice President for Europe and Central Asia. The parties discussed the funding sources for the 2023 state budget, the continuatio... #InvestmentsinUkraine #ReconstructionofUkraine #SerhiyMarchenko
