IMF, World Bank Fall Gatherings: Ukraine Aid Back on Agenda
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The eighth session of the Ministerial Roundtable dedicated to backing Ukraine is slated for Wednesday, October 15. It will be held as a component of the yearly gathering of the International Monetary Fund (IMF) and the World Bank (WB) in Washington, D.C., involving WB President Ajay Banga and IMF Managing Director Kristalina Georgieva.
“This Ministerial Roundtable, an event by invitation only … will gather selected WBG and IMF governors, Ukrainian Government officials, leaders of European IFIs to deliberate on the requirements for continuous assistance to Ukraine and endeavors vital for its rebuilding,” state the official websites of the World Bank and the IMF.
It is highlighted that the World Bank Group will be the host of this event alongside the Ukrainian Government, while jointly presiding over it with the IMF.
The inaugural gathering of this "roundtable" was convened during the spring meeting of the IMF and the World Bank on April 21, 2022, followed by the second one at the autumn meeting on October 12 of that same year. Subsequently, these meetings have occurred biannually during parallel occasions hosted by these major global financial bodies.
At the initial meeting, the IMF chief emphasized Ukraine’s demand for $5 billion monthly in 2022 to fund the state budget shortfall amidst the conflict initiated by Russia. During the second, Zelenskyy suggested that the international financial sphere adopt three pressing actions to aid Ukraine: establish a "financial Ramstein," guarantee economic revival and aid for Ukrainians, and institute a mechanism to bolster investment and safeguard them against wartime threats.
During the third session, Volodymyr Zelenskyy implored the IMF and the World Bank to sanction a $14.1 billion support scheme to address crucial Rapid Recovery projects, along with advocating for the crafting of concrete methods for leveraging seized Russian assets to offset the devastation inflicted by Russia.
This year, during the IMF’s yearly conference, spanning from October 13 to 18, the Ukrainian contingent plans to engage with the Fund regarding a fresh program, which the Ukrainian Prime Minister, accompanied by the Governor of the National Bank and the Finance Minister, officially requested on September 9. They are scheduled to be in Washington next week.
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