Zelensky demands $50 billion from G7, IMF: economic advisor

By Al Mayadeen Net
Source: Agencies
17 Apr 2022 22:26
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Ukraine is looking for a Special Drawing Rights loan from the IMF and has asked the G7 countries to provide the country with $50 billion in funding.

Oleg Ustenko, Zelensky's economic advisor

Ukraine is requesting the G7 countries as well as the International Monetary Fund (IMF) for $50 billion for financial assistance, according to Oleg Ustenko, Zelensky's economic advisor, on Sunday.

"The president has asked G7 countries to provide $50 billion in funding for Ukraine. We are using several parallel routes at the same time," Ustenko said on television.

Furthermore, Ukraine is looking for a Special Drawing Rights loan from the IMF: As the war goes by, Ukraine is losing some $7 billion a month, which would eventually add up to $50 billion over 6 months, according to the advisor.

Last Tuesday, Biden signed legislation - the Consolidated Appropriations Act for 2022 - funding the US federal government and also providing aid to Ukraine amid the crisis.

The legislation will fund the federal government through September 30, 2022, and will provide $13.6 billion in humanitarian, economic, and defense aid to Ukraine.

Biden said that the legislation sends a message that Republicans and Democrats can come together to get something done and fulfill their responsibility to keep the government open and serving Americans.

Ukraine will have to pay for Western aid

Ukrainian President Volodymyr Zelensky tersely stated that western countries are assisting Ukraine, but Kiev has yet to pay for it.

"The money allocated by Europe and other nations is spent only on humanitarian aid or weapons. Sometimes we receive weapons directly, but you have to understand that everything has its price," he claimed.

Zelensky added that "whenever the money that we get is mentioned - well, it all came at a cost, it’s not for free."

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?