Ukraine's finance minister says reconstruction costs are rising

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In August, the World Bank said it would take US$105b (S$144b) to repair Ukraine’s physical infrastructure. Read more at straitstimes.com.

and shut down all of Ukraine’s nuclear power plants for the first time in 40 years.

Mr Marchenko added that current Western support meant “we’ll have approximately US$3billion to US$3.5 billion a month vs US$5 billion this year”, which should be enough to keep the government running. The International Monetary Fund said on Wednesday it had reached a provisional “staff level” agreement for a policy programme monitoring arrangement. Ukraine hopes the move will lead to a full-fledged programme of support worth tens of billions of dollars.

IMF faces the impossibility of forecasting Ukraine’s economic capacity or reconstruction needs for the time being, or how much debt it could afford to finance.

 

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