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Ukraine finance minister says donor 'tiredness' growing as war drags on

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Ukraine is finding it harder to secure financial support as the attention of officials in key donor countries shifts to upcoming elections and geopolitical tensions heighten, Finance Minister Serhiy Marchenko told Reuters on Saturday.

"I see a lot of tiredness, I see a lot of weakness among our partners, they would like to forget about the war but the war is still ongoing, full-scale," Marchenko said on the sidelines of the International Monetary Fund and World Bank meetings in Marrakech.

As the war with Russia rages on, Ukraine needs to secure Western financial support to cover a $43 billion budget gap in 2024. Talks this week have been overshadowed by the conflict between Israel and Hamas, which broke out just as delegates were making their way to Marrakech. 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.

The EU is working on a 50 billion-euro Ukraine package for 2024 through 2027. Marchenko said Ukraine is seeking 18 billion euros of that in 2024, matching the package received for this year.

 

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