© Reuters. Ukrainian Minister of Finance Serhiy Marchenko attends an interview with Reuters during the annual meeting of the International Monetary Fund and the World Bank, following last month's deadly earthquake, in Marrakech, Morocco, October 14, 2023. REUTERS/Su
He said Ukraine is making"twice the effort right now to convince our partners to provide us with support compared to the last annual meetings" in April. Ukraine has earmarked additional tax receipts and funds to be raised from internal debt, but it will be dependent on outside help for the bulk of next year's spending requirements.
Marchenko welcomed the efforts to harness frozen Russian state assets, saying that what was previously portrayed by Western backers as an"achievable goal" now"sounds like a plan". Legal concerns, among others, have complicated recoveries.Since Moscow's February 2022 invasion, most of Ukraine's bilateral lenders have suspended repayment obligations until 2027, and the country has agreed a two-year freeze on $20 billion of international bonds that runs through August.