Government plans to attract about $42B from key partners next year

The Cabinet of Ministers plans that Ukraine will be able to attract $12 billion from the IMF and the EU each and $18 billion from the United States in 2023.

Prime Minister of Ukraine Denys Shmyhal made such an announcement during a press conference in Kyiv, an Ukrinform correspondent reports.

At an informal meeting this week, the International Monetary Fund pledged the allocation of $1.4 billion in additional support to Ukraine.

"We agreed that we will continue to cooperate with the IMF more actively already this year in order to have a program next year. The program will be special for Ukraine because these are special circumstances," Shmyhal said.

In addition, according to the Prime Minister, receiving EUR 8 billion macro-financial assistance from the EU was unblocked last week. This aid will be disbursed to Ukraine in two tranches. EUR 5 billion is expected to arrive by the end of September, and EUR 3 billion will be transferred in late October – early November.

Shmyhal emphasized that the United States of America is another important partner of Ukraine. Recently, U.S. President Joe Biden announced $11.7 billion in aid for Ukraine, of which $7.2 billion will be used for armaments, and the remaining $4 billion will be used for financing until the end of the current year.

"We understand that we will be financially stable this year with such support from the US and macro-financial assistance from Europe," Shmyhal noted.

Ukraine expects to get financial support from these three key partners in the next year as well, he noted.

"Next year, we are talking about three sources of financing our [budget] deficit. We ask the European Union for macro-financial assistance in the amount of 12 billion euros, the IMF is expected to provide 12 billion dollars under the next year’s program, and we expect to get 1.5 billion dollars per month from the United States. In total, this is 3.5 billion dollars per month, which will completely close our budget deficit," Shmyhal noted.

As reported, Ukraine expects to receive announced official funding of $12 billion by the end of the year.

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