According to Ukraine’s Minister of Finance, Mr. Serhii Marchenko, the country has managed to consolidate approximately USD 31 billion by the end of 2022, allowing it to finance more than half of the budgetary deficit.
Denys Shmyhal, Ukraine’s Prime Minister, opened the inaugural meeting of the Ukraine Multi-Agency Donor Coordination Platform’s Steering Committee. The initiative has been launched in order to coordinate existing and new mechanisms to support Ukraine’s budget, as well as to expedite recovery and reconstruction.
According to a White House Press Release, Deputy National Security Advisor for International Economics Mike Pyle co-chaired the first meeting of the Ukraine Multi-agency Donor Coordination Platform’s Steering Committee, fulfilling G7 Leaders’ December 2022 commitment and demonstrating the Biden-Harris Administration’s unwavering support for Ukraine.
G7 representatives, the Ukrainian government, and representatives from international financial institutions discussed how to better coordinate economic support for Ukraine’s immediate financing needs as well as future economic recovery and reconstruction efforts.
Representatives agreed to collaborate closely with Ukrainian authorities to define, prioritise, and sequence strategic economic needs for advancing Ukraine’s reform ambitions and for providing economic assistance to stabilise Ukraine’s economy and underpin a sustainable and inclusive recovery.
Pyle praised Ukraine’s government for its adept management of its economy despite extremely difficult circumstances, as well as its vision for a broad-based economic reform agenda.
Mike Pyle welcomed opening remarks from Ukrainian Prime Minister Denys Shmyhal and appreciated working with his co-chairs, Ukrainian Finance Minister Sergii Marchenko and European Commission Director General for Neighbourhood and Enlargement Gert Jan Koopman, as well as Japan in its G7 Presidency role. Collaboration will continue in the coming weeks, with the next meeting of the Steering Committee scheduled for March.
According to Ukraine’s Minister of Finance, Mr. Serhii Marchenko, the country has managed to consolidate approximately USD 31 billion by the end of 2022, allowing it to finance more than half of the budgetary deficit.
The Minister emphasised that the launch of the Ukraine Multi-Agency Donor Coordination Platform would assist Ukraine in finding new effective financial support solutions and reaching a new level of cooperation.
Galactik Views