G7: Green light in the $ 19.8 billion economic package to Ukraine

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Finance ministers from the Group of Seven (G7) economies today pledged $ 19.8 billion in financial aid to Ukraine this year as the country struggles to stay afloat amid the devastation caused by invasion of Russia, as reported by Bloomberg.

“As we address Ukraine’s humanitarian and other material needs, we recognize, in particular, the country’s urgent short-term financing needs,” the G-7 finance ministers said in a statement following their meetings in Bonn, Germany.

The amount includes $ 9.5 billion in commitments made before this week’s meeting, “to help Ukraine close its funding gap and continue to ensure the provision of basic services to the Ukrainian people,” the report said. ΥΠΟΙΚ.

The International Monetary Fund will help with the package, German Finance Minister Christian Lindner, the host of the meeting, told reporters. This IMF support helps ensure financial stability, he added.

The G7 announcement follows US Senate approval of more than $ 40 billion in aid to Ukraine. The United States is contributing $ 7.5 billion to the G-7 plan.

The statement also welcomed “continued work between the G-7 and international financial institutions on further substantial funding for Ukraine, which may include an additional € 9.5 billion ($ 10 billion) in additional macro-financial assistance”. they mention.

An even bigger aid package could be approved next month, when G-7 leaders return to Germany on June 26-28.

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Source: Capital

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