Prime Minister of Ukraine, Treasury officials to visit Washington next week

Ukrainian Prime Minister Denys Shmyhal and senior Ukrainian finance officials will visit Washington next week during the spring meeting of the International Monetary Fund and World Bank, sources familiar with the plans said on Friday.

Shmyhal, Finance Minister Serhiy Marchenko and Central Bank Governor Kyrylo Shevchenko are scheduled to meet bilaterally with finance officials from the Group of Seven countries and others and take part in a roundtable on Ukraine hosted by the World Bank on Thursday, the sources said.

Thursday’s event is the first opportunity for key Ukrainian officials to meet face-to-face with a host of finance officials from advanced economies since Russia’s February 24 invasion of Ukraine.

Spillovers from Russia’s war in Ukraine are expected to dominate next week’s meetings of senior business officials from World Bank and IMF member countries, as well as the G7 and G20, with the IMF ready to announce its forecast for global growth to lower as a result of the war.

Russian President Vladimir Putin sent his troops to Ukraine in a bid to demilitarize and “denazify,” as he calls it, Ukraine.

Kyiv and its Western allies say these are false justifications for an unprovoked war of aggression that has driven a quarter of Ukraine’s 44 million people from their homes and resulted in the deaths of thousands.

Thursday’s meeting will be more of a roundtable than a donors’ conference, although both the IMF and World Bank have set up separate accounts to process and channel donations, and further pledges are expected to be announced next week.

This January 26, 2022 file photo shows the seal of the International Monetary Fund (IMF) in Washington, DC.
The International Monetary Fund in Washington, DC.

It will give officials an opportunity to discuss the physical devastation and economic consequences of the war, as well as the continued functioning of Ukraine’s banking and financial sector.

“Without support now, there will be no rebuilding in the future,” one of the sources said.

The World Bank had no immediate comment on the event.

World Bank President David Malpass said at an event in Warsaw this week that the bank is preparing a $1.5 billion aid package for Ukraine.

The IMF’s Executive Board last week approved the creation of a new account that will offer bilateral donors and international groups a secure way to send funds to Ukraine.

Canada, one of Ukraine’s main backers, has proposed disbursing up to 1 billion Canadian dollars through the new account, which will be managed by the IMF.

The account will allow donors to provide grants and loans to help the Ukrainian government meet its balance of payments and fiscal needs and stabilize its economy while it continues to defend itself against Russia’s deadly invasion.

Marchenko said last week his government is seeking about 4 billion euros ($4.37 billion) in foreign financing, on top of about 3 billion euros it has already received to help address a budget deficit. Prime Minister of Ukraine, Treasury officials to visit Washington next week


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