World Bank, IMF assess Ukraine’s critical expenditures at $11 billion
World Bank Group President David Malpass (Photo:James Lawler Duggan / Reuters)
Ukraine has immense recovery and reconstruction needs, and the World Bank estimates that there is an additional $11 billion funding gap in 2023 for critical expenditures, World Bank Group President David Malpass said on April 10.
While opening the annual Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington D.C., Malpass noted he would chair the third Ukraine Ministerial Roundtable on April 12.
Meanwhile, according to the Interfax-Ukraine news agency, IMF Managing Director Kristalina Georgieva said that the war in Ukraine could end only with a decision to stop the war by the country that had invaded Ukraine.
She emphasized the importance of discussing the issue of the war in Ukraine, as it diverted the world’s attention from many other pressing problems.
Georgieva stressed that the war in Ukraine not only kills people, but also increases food prices, which creates even greater geopolitical tensions, undermining the world's ability to work as one.
In turn, Malpass said that the terrible development of events in Ukraine had continued longer than people had expected.
He said the World Bank has provided assistance by channeling international resources to Ukraine’s civil sector, and now it is also discussing the recovery of the Ukrainian economy.
The Spring Meetings of the IMF and the World Bank Group will take place from April 10 to April 16, 2023.
Ukrainian Prime Minister Denys Shmyhal will attend the Ukraine Ministerial Roundtable on April 12. Ukrainian President Volodymyr Zelenskyy is also expected to address the meeting by video.
The first Ukraine Ministerial Roundtable took place on April 21, 2022, while the second one was held on Oct. 12.
The updated state budget of Ukraine for 2023 foresees external financing of the deficit worth about $42 billion, or about $3.5 billion per month.
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