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Shmyhal appeals to international donors: "We cannot wait until March"

In a letter to international donors, he said that help is needed in January.

Shmyhal appeals to international donors: "We cannot wait until March"
Photo: kmu.gov.ua

Prime Minister Denys Shmyhal has demanded an urgent meeting with international donors, as Ukraine cannot wait until March 2024, because it needs help in January, Bloomberg reports.

In a letter to the coordination group that controls the funds, Denys Shmyhal said that funding is needed next month and should be directed to the needs of Ukraine's main budget.

The appeal reinforces Ukraine's calls as financial assistance worth more than $110bn has been delayed due to political tensions in the US and the European Union.

"In order to maintain macroeconomic stability, it is extremely important that we receive sufficient, prompt and predictable external financing starting from January 2024," Shmyhal said in the letter.

According to the prime minister, it is hardly possible to have any discussion about recovery and reconstruction projects when Ukraine is fighting for survival.

"We cannot wait until March to finance our social needs," Shmyhal said.

This urgency for donor financial support is due to pressure from Putin, who is exploiting shaky support among Ukraine's allies and the failure of the counter-offensive.

Last week, Ukraine's Finance Ministry said that funding needs for 2024 amount to $37.3 billion after receiving more than $42 billion in foreign aid in 2023.

According to it, the donors are to meet in January before the scheduled meeting next month.

As reported earlier, the EU will discuss €50 billion in aid for Ukraine at a special summit on 1 February 2024.

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