Ukraine's PM requests meeting with donors over "high uncertainty" on 2024 budget
Denys Shmyhal, Prime Minister of Ukraine, has requested an emergency meeting with international donors as Kyiv faces "exceptionally high uncertainty" over its 2024 budget.
Source: Bloomberg with reference to Shmyhal's letter to the interdepartmental coordination donor platform.
Details: According to Bloomberg, the letter states that funding is needed in January and should be directed to budget needs. He notes that more than US$110 billion was delayed due to "political infighting in the US and the European Union".
According to Shmyhal, the donor coordination platform should focus on the urgent needs of the budget: government support, salaries for teachers and civil servants and payment of pensions.
Shmyhal urged donors to start coordinating to direct frozen Russian assets to Ukraine's reconstruction.
Quote: "To uphold macroeconomic stability, it is imperative that we receive sufficient, prompt, and predictable external financing, beginning January 2024."
"It is hardly possible to hold any discussion about recovery and rebuilding projects, when we struggle fulfilling the 2024 survival priorities."
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