Ukraine's external financing needs could be $5Bln monthly in 2023: IMF
Managing Director Kristalina Georgieva discusses Ukraine's financing needs in 2023 at the Berlin-hosted International Expert Conference on the Recovery, Reconstruction and Modernization of Ukraine.
Ukraine’s external financing needs will reach about $3 billion per month in the coming year in a best-case scenario, but could be increased to $5 billion in a worst-case scenario, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Tuesday.
"We assess that in this recovery period through 2023 the best-case scenario would require $3 billion a month," Georgieva told the Berlin-hosted International Expert Conference on the Recovery, Reconstruction and Modernization of Ukraine.
However, she added that the cost "could go easily to $4 billion a month" if Ukraine’s infrastructure, its energy sector in particular, needs additional support.
"And in a worst-case scenario, if the bombing is even more dramatic, that could go up to $5 billion," Georgieva said.
Check out: What the West has given Ukraine so far
Speaking via video link at the Berlin conference on Ukraine's reconstruction, Ukraine's President Volodymyr Zelensky has said that Iran-made drones and Russian rockets have destroyed more than a third of his contry's energy sector.
"Russia is destroying everything so that it is harder for us to get through the winter," he said, adding that Kiev had yet to receive "a single cent" towards a fast recovery plan equal in value to 17 billion dollars.
Zelensky urged the international community to cover next year an expected budget deficit of 38 billion dollars for Ukraine.