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Thursday, March 30, 2023

G7: Lindner sees greater need for support for Ukraine

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Ukraine urgently needs money for the state enterprise in the midst of the war. The G7 countries have already put together an aid package. But that shouldn’t be enough, according to Finance Minister Lindner.

The western industrialized countries (G7) are struggling for further financial aid for the war-torn Ukraine. The package of billions that has already been put together for this year will not be enough, said Finance Minister Christian Lindner (FDP) on Thursday after a meeting with his G7 colleagues in Bengaluru, southern India. “We need additional support for Ukraine,” he stressed. Lindner initially did not provide any information on the size of the financing gap.

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Ukraine needs the money to maintain state operations despite the Russian war. In addition to the salaries and pensions of civil servants, teachers and police officers, this also includes the reconstruction of the destroyed infrastructure. So far, the EU has committed loans of 18 billion euros. US Treasury Secretary Janet Yellen confirmed in Bengaluru that the US wanted to contribute an additional $10 billion (9.43 billion euros). Japan, which took over the G7 presidency from Germany, wants to give around 5.5 billion dollars.

A program planned by the International Monetary Fund could help close the remaining gap. There are talks of $15 billion over four years. Germany supports this program if there is a fair distribution of the burden and risks, said Lindner. A decision could be made at the IMF spring meeting in Washington in April.

On the other hand, it seems unlikely that Germany alone will increase its contribution again. Lindner emphasized that the Federal Republic is already heavily involved – both with financial aid and military support for Ukraine. “Now others internationally must also make their contributions,” emphasized the FDP politician.

Source: Stern

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