Ukraine asks G7 and IMF for financial support of 50 billion USD

News agency Sputinik Quoting Mr. Oleg Ustenko – Economic Adviser to the President Ukraineon April 17, confirmed that the country was asking the Group of the world’s leading developed industries (G7) and the International Monetary Fund (IMF) to provide financial support up to 50 billion USD.

Speaking on television, Mr. Ustenko shared: “President Volodymyr Zelensky has asked the G7 countries to provide $50 billion in aid to Ukraine. At the same time, we are calling for support through many channels.” Besides, Kiev is also considering asking the IMF to provide a loan from the Special Drawing Right (SDR).

According to Mr. Ustenko, Ukraine is losing about 7 billion USD per month, thereby bringing the total loss in the 6-month period to approximately 50 billion USD.

On the same day, Ukrainian President Zelensky said that he had discussed with IMF Director General Kristalina Georgieva on the topic of financial stability of Ukraine and the reconstruction of the country after the war.

Earlier, Ukrainian Prime Minister Denys Shmyhal confirmed he will attend meetings of the IMF and World Bank (WB) this week in Washington (USA) and will seek more financial support for Kiev.

In March, the IMF approved emergency financial assistance of $1.4 billion to Ukraine to finance spending and strengthen the balance of payments. Also last month, the IMF said that Ukraine’s economy is expected to shrink 10% this year due to the effects of the conflict, and warned that the outlook could deteriorate if the conflict persists.

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