Ukraine’s international partners are sounding the alarm about the mounting pressure on Kyiv’s public finances as Russia’s invasion drives down tax revenue and its allies struggle to advance financial support rapidly.
The US Treasury warned that emergency measures such as money-printing being used by Kyiv to prop up its public finances risked damaging its ability to provide critical public services over time, underscoring the need for allies to meet commitments to provide tens of billions of dollars of grants and cheap loans as quickly as possible.
On Tuesday EU finance ministers meeting in Brussels agreed on a fresh €1bn emergency loan for Ukraine, but they are struggling to land an agreement on a wider package for the country.
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