Ukraine is finding it harder to secure financial support — Minister of Finance

Ukraine is finding it harder to secure financial support as key donor countries focus on the upcoming elections and geopolitical tensions heighten in the world.

Finance Minister Serhii Marchenko said this in a commentary to Reuters.

"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.

Marchenko said that "a geopolitical shift and internal political context in different countries" are reducing the willingness of governments to support Ukraine.

He mentioned elections scheduled in the United States and the European Union in 2024.

Ukraine will be dependent on foreign aid for most of its spending next year.

"We already have some commitments, like $5.4 billion from the IMF programme, and we expect commitments from Japan and the United Kingdom, and of course, we rely on our key partners and allies, the United States and European Union," the Finance Minister said.

Marchenko welcomed the efforts to use frozen Russian state assets and said that what was previously portrayed by Western backers as an "achievable goal" now "sounds like a plan."

Photo: Susana Vera | Reuters