Ukraine’s heroic defense of its sovereignty against the full-scale Russian invasion has inspired the world. But the costs are steep—thousands of Ukrainians have died and Kyiv runs an estimated $5-7 billion monthly deficit to defend the country. According to the World Bank, Ukraine’s economy may contract by 45 percent in 2022; President Zelenskyy has said economic losses from Russia’s war are at least $600 billion. Kyiv will need substantial financial assistance to sustain its defenses, stabilize its economy, and eventually rebuild the country. Ensuring that Vladimir Putin fails in Ukraine—so that we do not have to face his aggressive designs against the United States and its NATO allies in eastern Europe—makes these question very important US policymakers.
How can the West best support Ukraine’s economy right now? What might Ukraine’s economy look like after the war?
H. E. Serhiy Marchenko, minister of finance of Ukraine, joins Josh Lipsky, director of the Atlantic Council’s GeoEconomics Center, for a one-on-one discussion on how to sustain and rebuild Ukraine’s economy.
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