G7 promises allotment of over $24 bln to Ukraine in near future

KYIV. April 21 (Interfax-Ukraine) - G7 members and the international community have promised and provided additional financial support of over $24 billion to Ukraine in 2022 and later, the G7 finance ministers and central bank governors said in a statement at the end of their meeting in Washington.

"We call on all countries and international organizations to join our efforts to ensure adequate support for Ukraine in meeting its immediate needs and rebuilding its future," the statement said, noting the importance of further close coordination of support for Ukraine and its neighbors.

The G7 representatives welcomed the establishment of the International Monetary Fund's Multi-Donor Administered Account for Ukraine and the European Union announcement to develop a Ukraine Solidarity Trust Fund and supported the World Bank Group´s support package to Ukraine and the European Bank for Reconstruction and Development´s Resilience Package.

IMF Managing Director Kristalina Georgieva said on Wednesday that Ukraine had asked the IMF for help dealing with the monthly $5-billion deficit for the next three months, and the IMF pledged to assist in gathering those funds.

The National Bank of Ukraine estimates the overall international financial support received by Kyiv since the end of February at $3.8 billion.

Economic advisor to the Ukrainian president Oleh Ustenko said in an interview with The New Yorker last week that the Ukrainian budget deficit neared $8 billion per month and noted that Ukraine would like to receive $50-billion assistance from Western partners over six months. Ukrainian Finance Minister Serhiy Marchenko said earlier that the Ukrainian budget would have a monthly deficit of $5 billion - $7 billion in April and May, as against $2.7 billion in March.