Ukraine’s finance minister sounds alarm on country’s aid situation

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Serhiy Marchenko
Serhiy Marchenko

Ukraine is facing mounting challenges in securing financial assistance, as the attention of its key international partners increasingly focuses on upcoming U.S. elections, Ukrainian Finance Minister Serhiy Marchenko said in a report by Reuters on Oct. 15.

“I see a profound sense of weariness and a notable wavering among our partners. They would prefer to put the war behind them, but the conflict still goes on,” Marchenko said.

Read also: More difficult for Ukraine to attract further financial aid, minister says

Marchenko said that Ukraine is now exerting twice the effort to convince its partners to provide aid compared to earlier discussions held in April.

He added that “geopolitical changes and the internal political landscape in various countries” are diminishing the willingness of governments to support Ukraine, with upcoming elections in the United States and the European Union being particularly pertinent.

Read also: US plans to bundle aid to Israel, Ukraine, and Taiwan in one bill — report

“We are already bound by certain commitments, such as $5.4 billion under the IMF program, and we anticipate commitments from Japan and the United Kingdom. Naturally, we are relying on our key partners and allies, namely the United States and the European Union,” Marchenko said.

The minister also added that Ukraine’s economy is projected to grow by 5% in 2024. He noted that ample gas reserves for the winter should help shield the economy from potential price hikes.

The United States announced a $200 million military aid package for Ukraine on Oct. 11, encompassing ammunition for anti-aircraft systems, artillery ammunition, missiles, aviation equipment, and anti-tank weaponry.

Read also: Washington allocated $200 million in military aid to Ukraine

The Pentagon underscored that this latest package marks the 48th tranche of military assistance to Ukraine from the United States, a commitment that began in August 2021.

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Read the original article on The New Voice of Ukraine