The Cost of Economic Losses at $7 Billion Per Month, According to Zelenskyy
London, Friday, 22 April 2022
Ukraine's president stated on Thursday that his country requires $7 billion per month in order to recover from economic losses.
Volodymyr Zelenskyy's remarks were delivered via video link at a meeting of the International Monetary Fund (IMF) and the World Bank.
He stated that rapid assistance to Ukraine is required so that "Russian leadership understands that the war will prevent them from achieving any of their aggressive ambitions."
According to Zelenskyy, Russia should be barred from all international financial institutions, and a "special tax for the war" should be imposed on the country.
"We must continue to restrict Russian governmental assets as well as Russian elite representatives," he stated.
"Russia, and any other aggressor after it, must pay a price for undermining global stability," he continued.
According to IMF Managing Director Kristalina Georgieva, the international financial agency presented its World Economic Outlook on Tuesday, which predicted a 40% drop in Ukraine's GDP.
"We estimate that $5 billion per month will be required over the next 2-3 months just to keep the government and economy running in the midst of the war," Georgieva added.
"As a result, additional external financing is required, particularly concessional funding and grants that may be disbursed quickly."
According to UN estimates, at least 2,345 people have been killed and 2,919 injured in Ukraine since the conflict began on February 24, with the exact figure likely to be far higher.
According to the UN refugee agency, more than 5 million Ukrainians have fled to neighbouring countries, with over 7.7 million more internally displaced.
(Research and edit by: The Decision Maker – International Relations editors)