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HomeUncategorized"It's an astonishing rate": USAID chief estimates how much Ukraine spends in...

“It’s an astonishing rate”: USAID chief estimates how much Ukraine spends in a month in conflict conditions

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Published:

23 Jun 2022 01:47 GMT

Samantha Power indicated that kyiv will need “more direct budget support in the future.”

The head of the US Agency for International Development (USAID), Samantha Power, estimated on Tuesday that the Ukrainian authorities currently spend between 5,000 and 6,000 million dollars each month.

spending rate of this government that has to manage the war is, according to the latest estimate, between 5,000 and 6,000 million dollars a month, and that is a rate amazing“, he claimed the senior official at an event in which David Malpass, president of the World Bank, also participated.

Power stressed that the $7.5 billion allocated by Washington is not enough to replenish the Ukrainian budget. “We know that more budget support will be needed direct in the future. We all want to be able to stand before our friends on Capitol Hill, before the American people, and say that this money has been well spent,” he said, stressing the importance of monitor how those funds are used.

Only 4 heads of state of the African Union attended the virtual session of the body to listen to Zelensky's speech

For his part, the Ukrainian president, Vladimir Zelensky, declared this June 20, in his speech to the participants of the Global Policy Forum of the Institute for International Political Studies (Milan, Italy), that kyiv needs about 5,000 million dollars each month to cover the deficit of its public coffers. “It’s not just a number, It’s not about money. It is about how many millions of Ukrainians will still have something to live for. Living in Ukraine,” she remarked.

In that sense, he stressed that about half of the country’s economy is currently not working due to the conflict with Russia. “Imagine what it would be like if half of Italy’s economy was completely locked down. Its industrial part and all its ports. No State can survive such a situation without financial assistance“, summarized.

On June 14, an initiative was introduced in the Ukrainian Verkhovna Rada (local Parliament) that urges Zelensky and the Executive to cancel the external public debt. According to data from the country’s Ministry of Finance, external debt reaches 56,830 million dollars. Of that amount, kyiv must repay more than 3,300 million by the end of the year, they detail local media.

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