In a joint statement, G7 finance ministers said the bloc hoped Ukraine and the IMF could agree on a loan program by March, adding that they increased financial aid for Ukraine to $39 billion for this year Is. German Finance Minister Christian Lindner said that his country is already supporting Ukraine and now other countries have to play their part.
Ukraine is seeking a multi-year IMF program worth $15 billion, Prime Minister Denis Shmyhal said Monday after meeting IMF Managing Director Kristalina Georgieva in Kiev.
Yellen said that previous US military, economic and humanitarian aid totaled $46 billion, which had allowed Ukraine to maintain economic and financial stability.
“Our funding is making Ukraine’s resistance possible by supporting the home front: funding critical public services and helping to keep the government running. Over the coming months, we will provide nearly $10 billion in additional funding for Ukraine hope to do,” she said.
India, which has kept a neutral stance on the war, does not want additional sanctions against Russia to be discussed at G20 meetings, government sources have told Reuters. G20 officials said India was also pressing participants to avoid using “war” in communication language to describe the conflict.
But Yellen said the communiqué was still in discussion and she wanted to see “strong condemnation” of Russia’s aggression and the damage it has done to Ukraine and the global economy.
Nevertheless, she added that the global economy is “in better shape today than many predicted a few months ago”.