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IMF's Georgieva says Ukraine's external financing needs could hit $5 billion a month

(Reuters) – In the best-case scenario, Ukraine’s external financing needs will pass 2023 to around $3 billion per month, but if Russian bombing becomes “more” , it could be as high as $5 billion. IMF Managing Director Kristalina Georgieva said.

The International Monetary Fund is working with the Ukrainian authorities to help define and implement the country’s macroeconomic policies and the conditions required for EU membership, as well as generate reliable financial forecasts, Georgy Yeva said at a conference in Berlin on Tuesday. A full-fledged IMF loan program.

Georgieva strongly supported Ukraine’s call for a mechanism to coordinate financial needs and support, which was echoed by the President of the European Bank for Reconstruction and Development, Odile Renault-Basso, and others speaker.

“We were involved in the solution during the emergency phase. In this recovery phase, we will be part of the solution,” the IMF leader said.

She praised Ukrainian leaders for continuing to manage the economy during “extremely difficult times.” She said the international community had also stepped up pledging 35 US$1 billion to support 35 countries, but it was crucial to ensure that undisbursed funds were used quickly End.

“This country has done a very good job of making every penny — I should say every hryvnia — count,” Georgieva said. Although budget revenue remains severely constrained.

While the best-case scenario 2023 would require $3 billion per month, these costs could easily rise to $4 billion to cover additional gas imports and rebuilding infrastructure, she said. “And in the worst case scenario, if the bombing is more intense…it could reach $5 billion a month.”

But European investment Department president Werner Hoyer Banks, told the meeting he didn’t want to “indulge in these scary scenes of scary characters”.

“We should be very pragmatic and say the first thing first,” Hoyer said. “We need to act now. The more resilient the economy is today, the quicker the recovery will be tomorrow. The later we start, the higher the bill will be one day.”



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