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
The US plans to provide $1.5B monthly to Ukraine and has asked allies to do the same. The United States is willing to support Ukraine’s finances with $1.5B a month in aid throughout the war against Russia and is pushing its EU allies to commit to similar amounts, reported Bloomberg. T... #financialaidforUkraine #SerhiyMarchenko #USaidforUkraine
Ukraine plans to attract $51.5B in 2023. In 2023, the government of Ukraine plans to attract $37.9B to finance the state budget deficit and $13.6B to restore the country. In the presentation of the draft state budget for 2023, it is noted th... #financialaidforUkraine #SerhiyMarchenko #UkraineStateBudget
Ukraine has signed an agreement to suspend foreign debt payments. Minister of Finance Serhii Marchenko signed a memorandum on the suspension of payments for state and state-guaranteed debt with a group of Ukraine’s official creditors from the G7 and Paris Club coun... #debtpayments #foreigndebtsUkraine #SerhiyMarchenko
Ukraine’s budget deficit next year might reach $30B. The Ministry of Finance predicts a 2023 state budget deficit at between $25B and $30B, reported Forbes. As Finance Minister Serhii Marchenko noted , $30B is the amount Ukraine hopes to receive from in... #BudgetDeficit #SerhiyMarchenko
By the end of the year, Ukraine expects to receive another $12 to 16B from the West. Since the beginning of the war, foreign partners have already provided Ukraine with $14B. The Finance Ministry expects to receive another $12 to 16B by the end of the year, said Finance Minister Serhi... #EUaidforUkraine #financialaidforUkraine #SerhiyMarchenko
The Ukrainian government believes that 22% inflation is not critical. The Minister of Finance of Ukraine stated that he considers inflation in Ukraine relatively high when compared with the pre-war economic conditions. However, against the background of rising inflatio... #InflationinUkraine #SerhiyMarchenko
The Ukrainian Parliament plans to extend the tax amnesty until March 2023. The tax amnesty will be extended in Ukraine until March 1, 2023. The relevant draft law has already been passed by the specialized committee of the Ukrainian Parliament, Minister of Finance Serhii Mar... #SerhiyMarchenko #UkraineTaxAmnesty
Postponing payments on Eurobonds will save Ukraine $5B. By deferring debt service payments on Eurobonds and warrants over the next two years, Ukraine will save $5B. This money will be directed to urgent needs: social protection and financial support for mi... #Bondssale #eurobonds #SerhiyMarchenko
Ukraine plans to attract about $26.7B in assistance from international partners. Ukraine plans to attract about $26.7B in aid from its international partners by the end of the year, announced the Minister of Finance, Serhiy Marchenko. “What we have today is about $8.7B. We e... #AidforUkraine #financialaidforUkraine #SerhiyMarchenko
Ukraine covers only 62% of the state budget expenditures. “We cover only about 62% of the state budget, and this does not take into account military expenditures. In addition to that, May’s inflation reached 18%,” said the Minister of Finance, Se... #SerhiyMarchenko #UkraineBudgetDeficit #UkraineStateBudget
Ukraine needs to return to the pre-war tax system. Minister of Finance Serhiy Marchenko believes that Ukraine should return to the pre-war tax system. “I believe that Ukraine needs to return to the pre-war tax system. We need to decide what we w... #PreWarTaxes #SerhiyMarchenko #UkraineTaxes
Ukraine will receive only $2B from its international partners in May. In May 2022, Ukraine will receive up to $2B from its international partners against the required $5B per month, said Finance Minister Serhiy Marchenko. Unfortunately, we will not have $5B in May. So ... #financialaidforUkraine #SerhiyMarchenko
Ukraine will receive $10B of support, of which $4.5B has already been received. “We have already negotiated funds to support Ukraine through various instruments: loans, grants, aid, projects $ 10 B, and we already received more than $ 4.5 B,” said Prime Minister Denys Shmyhal fo... #AidforUkraine #DenysShmyhal #FinancialSupport #SerhiyMarchenko
Ukraine will be able to service its foreign debt. Minister of Finance Serhiy Marchenko believes that Ukraine will be able to service its foreign debt in the near future, he said to Interfax-Ukraine. According to him, the state must pay $200M in May,... #SerhiyMarchenko #ukrainedebt #UkrainePublicDebt
The G7 finance ministers have announced more than $24B in aid for Ukraine. The G7 finance ministers have announced more than $24B in aid for Ukraine. #financialaidforUkraine #G20 #G7 #SerhiyMarchenko #WarinUkraine
The Prime Minister of Ukraine, along with a delegation, will visit Washington. The visit is scheduled for next week. The visit will take place during the spring meetings of the International Monetary Fund and the World Bank. Denys Shmyhal, Finance Minister Serhiy Marchenko, and... #DenysShmyhal #KyryloShevchenko #SerhiyMarchenko
Ukraine has already received €3B in financial aid. Ukraine has received about €3B in financial assistance from its partners, said Finance Minister Serhiy Marchenko. “Today, we are negotiating for about €7B, of which we have already received abou... #AidforUkraine #SerhiyMarchenko #Ukrainewar
Ukraine is seeking international financial assistance. Ukraine is actively negotiating financial support with the IMF, the European Commission, and the United States, said the Minister of finance, Serhiy Marchenko. The Minister noted that the current sit... #financialaidforUkraine #SerhiyMarchenko #UkraineandEU
The Ministry of Finance discussed the privatization of state-owned banks with the EBRD. The Minister of Finance, Serhiy Marchenko, met with the head of the EBRD, Matteo Patrone, to discuss the financing of joint investment projects for 2022. These projects include the privatization of O... #Banksprivatization #ebrd #EBRDinUkraine #SerhiyMarchenko
Ukraine can pass the year mark without the issuance of Eurobonds under certain conditions. Conditions include obtaining an IMF loan, EU macro-financial assistance, and borrowing effectively in the domestic market, said Minister of Finance Sergiy Marchenko. First is cooperation with the IMF... #SerhiyMarchenko #ukrainebonds
The state budget deficit to grow to 3-3.5% of GDP in December. The head of the Ministry of Finance of Ukraine, Sergei Marchenko, expects a significant increase in the state budget deficit in December to 3-3.5% of GDP. For 11 months of 2021, the actual budget defi... #SerhiyMarchenko #UkraineBudget2022 #UkraineBudgetDeficit
Ukraine is implementing 8 EBRD projects worth € 1.68 bln, announced the finance minister, Serhiy Marchenko, at a meeting with the newly appointed EBRD Vice President for Policy and Partnership, Mark Bowman. During the meeting, the issues of the current state... #ebrd #EBRDandUkraine #SerhiyMarchenko
Finance Ministry’s aim in public debt market is to switch to long-term instruments, will dictate conditions , the Minister Serhiy Marchenko told Interfax-Ukraine. It’s striving to be as efficient as possible in the markets of state internal and external debt and to avoid unexpected developments. “We h... #SerhiyMarchenko #ukrainedebt
IMF SBA for Ukraine could be extended for six months, Finance Minister Serhiy Marchenko believes. He is hopeful the current 18-month Stand-By Arrangement (SBA) with the IMF could be extended for six months. Discussion are under way and Ukraine expects th... #IMFmoneyforUkraine #IMFSBAforUkraine #SerhiyMarchenko
As the Finance Minister’s visit to Washington continues into its second week, Minister Serhiy Marchenko said he is having “very good” talks with the IMF and the US Treasury Department. “We will be able to fulfill all our commitments under the IMF program and be able to continue... #IMFdeal2021 #SerhiyMarchenko
