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Ukraine needs $7 billion per month to compensate for economic losses: Zelenskyy

EconomyUkraine needs $7 billion per month to compensate for economic losses: Zelenskyy

Kyiv (Times Of Ocean)- Ukraine’s president said Thursday the country needs to pay off economic losses with $7 billion per month.

Volodymyr Zelenskyy made his remarks during a video link address to the International Monetary Fund (IMF) and World Bank.

“Russian leadership needs to know that the war won’t let them achieve any of their aggressive goals,” he said.

Zelenskyy said Russia should be excluded from all international financial institutions and a “special war tax” should be implemented for Russia.

“We should continue to block Russian state assets and representatives of the Russian elite,” he said.

“Russia, and after it any other aggressor, must pay for violating global stability,” he said.

Kristalina Georgieva, the IMF’s managing director, said on Tuesday that the international financial institution predicted that Ukraine’s GDP will decline by about 40%.

Georgieva estimated that the government and the economy may need to spend some $5 billion a month just to function in the midst of the war over the next few months. “We need more external financing, especially concessional funding and fast-disbursing grants.”

Since the conflict began in Ukraine on Feb. 24, at least 2,345 civilians have been killed and 2,919 injured, according to UN estimates, but the true number is believed to be much higher.

Over 5 million Ukrainians have fled abroad and over 7.7 million have become internally displaced, according to the UN refugee agency.

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