Ukraine will need $3 billion to $4 billion per month next year to keep the government operating, an International Monetary Fund (IMF) official said Tuesday.
IMF Managing Director Kristalina Georgieva said officials in Kyiv have done an “impressive job in managing their economy through extremely difficult circumstances following Russia’s invasion,” and that there were “signs of economic stabilization in some parts of the country,” although the situation remained volatile given Russia’s recent missile attacks on the capital and other cities.
In remarks at a roundtable discussing Ukraine’s financing needs, which included the World Bank Group, the IMF and the Ukrainian Government, Georgieva said that $35 billion in loan and grant financing has been committed from international partners, which will close the country’s financing gap in 2022, according to the IMF’s estimations.
However, she warned that “the external financing requirement will remain large as long as the war is ongoing,” giving the $3 to $4 billion per month figure, as the fiscal deficit will remain “very large, reflecting the impact of the war,” she said.
The IMF managing director said that resources will be required to cover for the repair of critical infrastructure, energy imports and basic social services, even before the start of reconstruction efforts.
IMF Managing Director Kristalina Georgieva said officials in Kyiv have done an “impressive job in managing their economy through extremely difficult circumstances following Russia’s invasion,” and that there were “signs of economic stabilization in some parts of the country,” although the situation remained volatile given Russia’s recent missile attacks on the capital and other cities.
In remarks at a roundtable discussing Ukraine’s financing needs, which included the World Bank Group, the IMF and the Ukrainian Government, Georgieva said that $35 billion in loan and grant financing has been committed from international partners, which will close the country’s financing gap in 2022, according to the IMF’s estimations.
However, she warned that “the external financing requirement will remain large as long as the war is ongoing,” giving the $3 to $4 billion per month figure, as the fiscal deficit will remain “very large, reflecting the impact of the war,” she said.
The IMF managing director said that resources will be required to cover for the repair of critical infrastructure, energy imports and basic social services, even before the start of reconstruction efforts.
