Ukraine may need at least $ 600 billion to rebuild
Kyiv, April 22, LETA – UKRAINE PRAVDA. Rebuilding Ukraine after the Russian invasion will cost at least $ 600 billion, Ukrainian Prime Minister Dennis Smihali said.
At a ministerial roundtable to support Ukraine during the spring meeting of the International Monetary Fund (IMF) and the World Bank (WB) in Washington, Schmihal said Ukraine needed $ 4-5 billion a month in funding in the short term.
In the long run, the country needs a reconstruction strategy similar to Marshall’s post-World War II plan, the prime minister said.
Schmihal said that Ukraine is developing a recovery plan that includes joining the European Union (EU). He also called on countries to help supply ammunition and weapons to Ukraine and increase sanctions on Russia.
Schmihal said he had sent letters to IMF member countries asking them to donate 10% of their Special Drawing Rights (SDRs) to Ukraine for financial support.
He noted that the Ukrainian people will fight manly and wisely to defend the nation and European freedom, but that Ukraine needs support to win the war against Russia.
The IMF predicts that Ukraine’s economy will shrink by 35% in 2022 due to the Russian invasion.
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