“Effective and well-coordinated cooperation with the IMF is one of the key elements in maintaining Ukraine’s financial stability in the face of uncertainty. Ukraine continues to work fruitfully on the implementation of the jointly agreed reforms,“ Finance Minister Serhiy Marchenko said, according to a statement.
The Ukrainian central bank said risks to the country’s economic outlook “remain exceptionally high” in its statement. Without foreign aid, Ukraine’s budget deficit would stand at 19.6 per cent of the country’s gross domestic product (GDP). A value of three per cent is considered the threshold for financial stability.
A potential loss of US support could put Kyiv under severe pressure. According to the Ukrainian Finance Ministry, the United States contributed an average equivalent of about €10 billion annually to Ukraine’s budget.
The previous day, talks between US President Donald Trump and Ukrainian President Volodymyr Zelensky at the White House were cut short, with a planned cooperation agreement in the commodity sector left unsigned.
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