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 Ukraine’s finance minister asks G7 and G20 for more financial help - The Financial Times

Ukraine’s finance minister has urged rich nations to provide more aid to rebuild the country’s economy after the Russian-backed conflict in the east produced “probably the greatest humanitarian crisis” in Europe since the Second World War.

Natalie Jaresko told the Financial Times in an interview that a four-year, $40bn, IMF-led bailout finalised this month - including restructuring $15bn of debt - was enough to stabilise the financial and banking system. But that was a "first step", Censor.NET reports citing The Financial Times.

Ukraine needed billions more to restart growth, rebuild shattered infrastructure, and deal with the effects of the eastern conflict that has killed at least 6,000 people, wounded 15,000 and displaced more than a million.

"It's important for everyone to understand that this is the single time to invest in a country, and in a nation, that has lived and died by the principles of freedom and democracy and . . . for the European philosophy," she said.

"I believe strongly that the G7, and frankly speaking the broader G20, has a responsibility now to support Ukraine in a much bigger way financially," Ms Jaresko said.

Ms Jaresko stressed Ukraine was grateful for the $17.5bn IMF aid and other bilateral support totalling $7.5bn. But it was better to put in more now "because the cost of a failed state will be so much greater."

Read also: Poroshenko: Turkey provided $10 million in humanitarian assistance and $50 million for budget deficit

 
 
 
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