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#21821081 at 2024-10-24 15:12:03 (UTC+1)
Q Research General #26720: I ain't no Fotunate son Edition

11:45 AM EDT
Ukraine's Finance Minister Serhiy Marchenko on economic aid and recovery
Atlantic Council
https://www.youtube.com/watch?v=rdiA8bG5ync

#20918866 at 2024-05-26 20:10:47 (UTC+1)
Q Research General #25656: No Deal Edition

U.S., Western allies meet at annual G7 summit, agree to more economic levers to stop Russia, China

The centerpiece agreement is aimed at securing funding for Ukraine well beyond this year

Treasury Secretary Janet Yellen and other top economy officials from the world's richest countries agree Saturday in Italy to to seize Russian assets to back Ukraine and to start pressuring China to cut subsidies that give its companies an unfair advantage against western allies.

The centerpiece agreement from the ministers of the Group of Seven nations - an informal bloc of industrialized and democratic countries that includes all of Ukraine's key Western allies - is to secure funding for Ukraine well beyond this year, in which the United States and the European Union have elections that could change geopolitical priorities for both.

The ministers from the G-7 met for three days in the lakeside Italian town of Stresa. The entire list of G7 members is the United States, Canada, France, Germany, Italy, Japan and the United Kingdom. The European Union is also part of the group but is considered a "non-enumerated member."

The plan on Russian assets was first floated by U.S. officials in the lead-up to the talks and was originally opposed by G-7 members France, Italy, and Germany (the member states that use the euro currency). But in Stresa, one by one other G-7 ministers endorsed it.

The plan would issue Ukraine a loan worth roughly $50 billion to be paid off by about $190 billion in seized assets from Russia's Central Bank currently held by the Europe-based central securities depository Euroclear. The assets, which do not include any funds owned by private Russian citizens, could be used to repay additional loans going forward.

The details on how the loan will be structured are expected to be finalized at next month's G-7 head of state summit, also in Italy, which holds the G7 presidency this year.

Ukraine is not a member of the G-7, but Serhiy Marchenko, the country's finance minister, attended the talks as an observer. And though he supported the idea, he said it would only be a "temporary solution."

Marchenko said the Russian assets should be confiscated and given to Ukraine.

https://justthenews.com/government/diplomacy/us-western-allies-meet-annual-g7-summit-agree-more-economic-levers-stop-russia

#19738033 at 2023-10-15 00:34:27 (UTC+1)
Q Research General #24235: Patriots In Control Edition

World Is Tired of Financing Ukraine, Alerts Finance Minister Marchenko - Kiev Will Need 42 Billion to Keep Budget Afloat Until 2024

Exhaustion with the Ukrainian financial needs has set in, and no one can deny - not even Kiev officials.

In the IMF meeting, in Marrakech, the world had yet another display of the endless fundraising to keep the war going.

But Ukraine is finding it increasingly harder to secure financial support, as the attention of western officials is tied up with upcoming elections and new geopolitical tensions in the rise, according to Finance Minister Serhiy Marchenko.

Reuters reported:

"'I see a lot of tiredness, I see a lot of weakness among our partners, they would like to forget about the war but the war is still ongoing, full-scale', Marchenko said on the sidelines of the International Monetary Fund (IMF) and World Bank meetings in Marrakech. /moar

By Paul Serran Oct. 14, 2023 6:20 pm
https://www.thegatewaypundit.com/2023/10/world-is-tired-financing-ukraine-alerts-finance-minister/?utm_source=rss&utm_medium=rss&utm_campaign=world-is-tired-financing-ukraine-alerts-finance-minister

#18394934 at 2023-02-22 18:33:19 (UTC+1)
Q Research General #22551: ITT Russia Join Forces with China Edition

IMF Head Says New Lending to Ukraine Could Be 'Sizeable'

Ukraine could secure "sizeable support" from the International Monetary Fund under a new, longer-term program, and its economy should see a gradual recovery over the course of this year, IMF Managing Director Kristalina Georgieva said on Tuesday.

Prime Minister Denys Shmyhal said this week Ukraine hopes to agree a $15 billion multi-year program with the Fund in what could be the largest loan package for the country since Russia's full-scale invasion a year ago.

"Based on the performance of the Ukrainian authorities, we are confident that it could be a sizeable support from us," Georgieva said during a call with media a day after a one-day visit to Kyiv.

"We are in the process of discussing with Ukrainian authorities what will be the components of the program, the duration of the program. We are certainly talking about the longer duration, because clearly Ukrainian policy challenges are not going to evaporate any time soon."

Deputy U.S. Treasury Secretary Wally Adeyemo, speaking in Washington, welcomed IMF support for Ukraine, saying it demonstrated the international community's long-term commitment.

Separately, the World Bank's vice president for Europe and Central Asia said the bank now estimated that Russian attacks had resulted in five times the damage to Ukraine's energy infrastructure since the last estimate in June 2022.

During her visit, Georgieva met President Volodymyr Zelenskiy, Prime Minister Denys Shmyhal, Finance Minister Serhiy Marchenko and Central Bank Governor Andriy Pyshnyi, and said she was heartbroken to see the widespread destruction and suffering caused by Russia's invasion.

"Yet, as I stood in front of destroyed buildings in Kyiv and Irpin yesterday, I was also able to experience first hand the resilience of the people of Ukraine," she said. "I was truly inspired by their determination to persevere under these extremely difficult conditions."

PRAISE FOR UKRAINE

In a statement issued in Warsaw, Poland after her visit to Ukraine, Georgieva lauded the Ukrainian authorities for their "impressive economic management" and their vision to move to transformational recovery and EU accession.

The IMF has provided Ukraine with $2.7 billion in two emergency loans since Feb. 24, 2022, finance ministry data showed. For the past four months, Ukraine has worked with the IMF under an economic policy monitoring program which was a prerequisite to establishing the full-fledged lending program.

Ukraine depends heavily on foreign financial aid and the IMF's involvement is crucial to catalyze support from other foreign backers and reassure investors that the country's economic policies are sound.

Georgieva said she was particularly impressed with the level of tax collection and efforts to keep inflation at bay.

https://www.usnews.com/news/world/articles/2023-02-21/imf-head-says-new-lending-to-ukraine-could-be-sizeable

#16284998 at 2022-05-16 15:18:30 (UTC+1)
Q Research General #20600: Lunar Eclipse (Dark -> Light) Precipice Edition

16 May, 2022 14:20
HomeBusiness News
Ukraine warns of draconian measures to support crashing economy
(Unbelievable since they got $54 billion this year alone. Proof of money laundering)
An extended conflict with Russia may lead to huge tax hikes and nationalization

The Ukrainian government will take "painful" measures if the military conflict in the country lasts another three or four months, according to the country's Finance Minister Serhiy Marchenko. He said that the drastic steps may include a sharp increase of taxes, spending cuts as well as nationalization.

"What in recent years has become a fairly market-driven and free-wheeling economy could face a wave of nationalization that will undo years of hard progress," Marchenko said in an interview with The Economist.

The minister cited the latest forecast revealed by the World Bank that expects the Ukrainian economy to shrink by 45% in 2022.

According to Marchenko, customs revenue fell by about a quarter due to a reduction in imports and the dropping of many duties.

He highlighted that the salaries of the military is "a huge burden," adding the country's monthly losses amount up to $5 billion due to the current situation.

The conflict also poses significant challenges for exporting wheat, barley, sunflower seeds, Marchenko said, warning that the EU may face food shortages as a result of the bureaucratic hurdles Ukrainian lorries are running against as the country is not a member of the bloc.

In March, the finance minister said that the damage caused to the Ukrainian economy because of the Russian military operation could amount to about $500 billion. He added that revenue from customs duties decreased by 85%, while Odessa, Ukraine's last remaining sea port, which accounted for 20% of all custom revenue, had halted operations.

https://www.rt.com/business/555551-ukraine-economy-russia-conflict/