Reuters: – <\/p>\n\n\n\n
The Group of Seven\u2019s financial leaders agreed on Thursday on $18.4 billion to help Ukraine pay its bills in coming months and said they were ready to stand by Kyiv throughout its war with Russia and do more if needed, a draft communique showed.<\/p>\n\n\n\n
Finance ministers and central bank governors of the United States, Japan, Canada, Britain, Germany, France and Italy – the G7 – are holding talks as Ukraine, invaded by Russia on Feb. 24, is struggling to fend off the attack and is running out of cash.<\/p>\n\n\n\n
\u201cIn 2022, we have mobilised $18.4 billion of budget support, including $9.2 billion of recent commitments,\u201d the draft communique seen by Reuters said.<\/p>\n\n\n\n
\u201cWe will continue to stand by Ukraine throughout this war and beyond and are prepared to do more as needed,\u201d it said.<\/p>\n\n\n\n
In the draft, the G7 welcomed the European Commission\u2019s proposal on Wednesday to lend 9 billion euros to Ukraine and noted that the European Bank for Reconstruction and Development and the International Financial Corporation planned support worth $3.4 billion. But it was not clear if these funds were part of the $18.4 billion or separate.<\/p>\n\n\n\n
Earlier on Thursday, German Finance Minister Christian Lindner said Germany would grant Ukraine 1 billion euros and Japan pledged to double its aid for Ukraine to $600 million to help it cover its near-term needs.<\/p>\n\n\n\n
Ukraine estimates it needs some $5 billion a month to keep public employees\u2019 salaries paid and the administration working despite the daily destruction wrought by Russia.<\/p>\n\n\n\n
The war has been a game-changer for Western powers, forcing them to rethink decades-old relations with Russia not only in terms of security, but also in energy, food and global supply alliances from microchips to rare earths.<\/p>\n\n\n\n
More broadly, the G7 policymakers are wrestling with the question of how to contain inflation and increase sanctions pressure on Russia without causing recession.<\/p>\n\n\n\n
More and more officials have brought up the term \u201cstagflation\u201d – the dreaded 1970s combination of persistent price increases coupled with economic stagnation.<\/p>\n\n\n\n
\u201cG7 central banks are closely monitoring the impact of price pressures on inflation expectations and will continue to appropriately calibrate the pace of monetary policy tightening in a data-dependent and clearly communicated manner, ensuring that inflation expectations remain well anchored, while being mindful to safeguard the recovery and limit negative cross-country spillovers,\u201d the draft said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Reuters: – The Group of Seven\u2019s financial leaders agreed on Thursday on $18.4 billion to help Ukraine pay its bills in coming months and said they were ready to stand by Kyiv throughout its war with Russia and do more if needed, a draft communique showed. Finance ministers and central bank governors of the United States, Japan, Canada, Britain, Germany, France and Italy – the G7 – are holding talks as Ukraine, invaded by Russia on Feb. 24, is struggling to fend off the attack and is running out of cash. \u201cIn 2022, we have mobilised $18.4 billion of budget… <\/p>\n","protected":false},"author":1,"featured_media":24652,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-24651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-in-english"],"_links":{"self":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/24651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24651"}],"version-history":[{"count":1,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/24651\/revisions"}],"predecessor-version":[{"id":24653,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/24651\/revisions\/24653"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/media\/24652"}],"wp:attachment":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}