{"id":8125,"date":"2022-05-20T12:20:05","date_gmt":"2022-05-20T12:20:05","guid":{"rendered":"http:\/\/ukrainewar.claims\/1234\/?p=7429"},"modified":"2022-05-20T12:20:05","modified_gmt":"2022-05-20T12:20:05","slug":"g-7-to-unveil-ukraine-aid-plan-to-help-offset-losses-from-russian-invasion","status":"publish","type":"post","link":"https:\/\/ukrainewar.claims\/en\/2022\/05\/20\/g-7-to-unveil-ukraine-aid-plan-to-help-offset-losses-from-russian-invasion\/","title":{"rendered":"G-7 to unveil Ukraine aid plan to help offset losses from Russian invasion"},"content":{"rendered":"
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BONN, Germany \u2014 The financial leaders of the Group of Seven nations are expected to unveil a major new economic aid package as soon as Wednesday to help the Ukrainian government offset losses from Russia\u2019s invasion, according to two people familiar with the matter.<\/p>\n

Global officials have discussed providing as much as $15 billion in aid to the Ukrainians to cover financial losses caused by the war, although the final details of the measure are still being worked out, they said, speaking on the condition of anonymity to discuss planning not yet made public.<\/p>\n<\/div>\n

Ukrainian officials estimate they face a monthly deficit of roughly $5 billion. The aid would be intended to cover the Ukrainian deficit for three months \u2014 amounting to short-term economic assistance, as world leaders have signaled that a much bigger long-term recovery package may be necessary.<\/p>\n

The assistance package could be provided through a mix of partners, including the International Monetary Fund.<\/p>\n

Congress is on track to approve roughly $40 billion in aid to Ukraine following a request from the Biden administration, although that funding includes military assistance. Ukrainian leaders attending a Group of 20 meeting last month asked <\/a>for $5 billion per month in economic assistance alone, including about $2 billion per month from the United States.<\/p>\n

Ukraine has sustained more than $94 billion in direct damage to its infrastructure since the war began, with more than $550 billion in total economic losses, according to researchers with the Kyiv School of Economics.<\/p>\n

About three dozen countries have already provided Ukraine with assistance totaling $24 billion, according to estimates by the Kiel Institute for the World Economy, a German think tank.<\/p>\n

Ukrainian officials have said a failure to provide additional international aid would exacerbate a devastating humanitarian crisis, pointing to their inability to make scheduled government payments and repair necessary infrastructure.<\/p>\n

\u201cOur economy is partly destroyed,\u201d Sergey Nikiforov, a spokesman for Ukrainian President Volodymyr Zelensky, said in an interview. \u201cOur export capacity and steel plants are destroyed, and we have this huge deficit monthly. \u2026 Tax and customs revenues are not nearly as high as they were before the war.\u201d Nikiforov also emphasized that more than 12 million Ukrainians have been displaced by the war, either internally or externally.<\/p>\n

The G-7 finance ministers set to gather in Bonn this week<\/a> face enormous challenges as they try to increase financial pressure on Russia over its invasion amid escalating economic head winds in their own countries. Aside from the United States, the largest contributions so far have come from Poland, Britain, Canada and Germany, according to the Committee for a Responsible Federal Budget, a Washington think tank.<\/p>\n

In a speech in Brussels on Tuesday, U.S. Treasury Secretary Janet L. Yellen pleaded with European allies to provide more aid to the Ukrainian government.<\/p>\n

\u201cI sincerely ask all our partners to join us in increasing their financial support to Ukraine,\u201d Yellen said, according to a transcript of her prepared remarks. \u201cOur joint efforts are critical to help ensure Ukraine\u2019s democracy prevails over [Vladimir] Putin\u2019s aggression.\u201d<\/p>\n

Rauhala reported from Brussels.<\/i><\/p>\n

The Washington Post<\/strong><\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

BONN, Germany \u2014 The financial leaders of the Group of Seven nations are expected to unveil a major new economic aid package as soon as Wednesday to help the Ukrainian government offset losses from Russia\u2019s invasion, according to two people familiar with the matter. Global officials have discussed providing as much as $15 billion in<\/p>\n","protected":false},"author":2,"featured_media":7430,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[108],"tags":[],"class_list":["post-8125","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/ukrainewar.claims\/en\/wp-json\/wp\/v2\/posts\/8125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ukrainewar.claims\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ukrainewar.claims\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ukrainewar.claims\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ukrainewar.claims\/en\/wp-json\/wp\/v2\/comments?post=8125"}],"version-history":[{"count":0,"href":"https:\/\/ukrainewar.claims\/en\/wp-json\/wp\/v2\/posts\/8125\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ukrainewar.claims\/en\/wp-json\/wp\/v2\/media\/7430"}],"wp:attachment":[{"href":"https:\/\/ukrainewar.claims\/en\/wp-json\/wp\/v2\/media?parent=8125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ukrainewar.claims\/en\/wp-json\/wp\/v2\/categories?post=8125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ukrainewar.claims\/en\/wp-json\/wp\/v2\/tags?post=8125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}