Ukrainian Prime Minister Dennis Smihal and top officials will travel to Washington next week for a spring meeting of the International Monetary Fund and the World Bank, according to Reuters, citing Ukrainian government sources.
Prime Minister Smihal, Finance Minister Sergiy Marchenko and Central Banker Kirillo Shevchenko will hold bilateral meetings with G7 economic officials and attend a World Bank meeting on Ukraine on Thursday, according to the World Bank. .
Thursday’s event will be the first opportunity for top Ukrainian officials to meet face to face with officials from advanced economies following the Russian invasion of Ukraine on February 24.
The effects of the Russian attack on Ukraine are expected to dominate next week’s meetings of top financial officials from the World Bank and International Monetary Fund, as well as the G7 and G20, with the IMF ready to review I have his predictions for global development because of the war.
Russian President Vladimir Putin has ordered his troops to invade the neighboring country in a “special military operation” (as he calls it) aimed at “demilitarizing” and “de-Naziizing” Ukraine.
Kyiv and its allies in the West say these are false excuses for an unprovoked military offensive that has displaced a quarter of the Ukrainian population (about 44 million) and killed thousands.
Thursday’s meeting will be more of a roundtable discussion than a donors’ conference, although both the IMF and the World Bank have set up separate accounts to process and transfer donations, with further announcements expected next week.
It will also give officials the opportunity to discuss the material damage and economic consequences of this war, as well as the ongoing operation of Ukraine’s banking and financial sector.
“Without support now, there will be no reconstruction in the future,” one source said.
The World Bank did not immediately comment on the incident.
The President of the World Bank, David Malpa, had stated a few days ago in Warsaw that he was preparing a $ 1.5 billion support package for Ukraine.
The IMF board last week approved the creation of a new account that gives bilateral donors and international organizations a secure way to send financial resources to Ukraine.
Canada, one of Ukraine’s main backers, has proposed disbursing up to C $ 1 billion through the new IMF-managed account.
The bill will allow donors to provide grants and loans to help the Ukrainian government meet its balance of payments and budgetary needs, as well as stabilize its economy as Kyiv continues to defend itself against Russian invaders.
Finance Minister Marchenko said last week that the Ukrainian government was seeking foreign funding of about 4 billion euros, in addition to the nearly 3 billion it has already received to address its budget deficit.
Source: Capital
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