US commits US$11.8 billion in additional aid to cover Ukraine's budget deficit, says Treasury Department
The US government intends to provide Kyiv with budgetary support amounting to US$11.8 billion as part of a request for additional funding.
Source: Voice of America, citing Janet Yellen, United States Secretary of the Treasury, during an online meeting with Denys Shmyhal, Ukraine’s Prime Minister.
A statement from the US Department of the Treasury following the meeting emphasises that the US leadership in providing direct budgetary support to Ukraine encourages other donors who cover approximately three-quarters of Ukraine's external financing needs for 2024. This assistance supports vital state needs, including hospital funding, schools, and rapid response services.
"The financial support for Ukraine remains closely tied to its success on the battlefield," stated the Ministry of Finance, adding that this support also demonstrates the determination of the US and its allies to defend the territorial sovereignty and freedoms of democratic countries.
At the same time, Yellen highlighted the importance of Congress promptly adopting the decision on the core financial support package for Ukraine.
"Providing financial support to Ukraine will help it win the war and, simultaneously, defend the national security interests of the United States on a global scale," emphasised the department.
Background:
If, in the coming months, the USA and the EU do not provide financial assistance to Ukraine, the country will have to implement "painful economic measures" and activate money printing. Ukrainian officials and economists revealed this to The Wall Street Journal.
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