Zelenskyy and Lagarde Tackle Ukraine’s Budget

President of Ukraine Volodymyr Zelenskyy met with European Central Bank President Christine Lagarde to discuss budgetary support for Ukraine amidst ongoing conflict. The meeting underscored the significance of international financial backing, which Zelenskyy described as crucial for maintaining national morale and economic stability during wartime.

During the meeting, Zelenskyy expressed gratitude for the $50 billion loan provided through the G7’s Extraordinary Revenue Acceleration for Ukraine (ERA) initiative. He highlighted the importance of this support in enabling Ukraine to fulfill its defense needs and financial obligations, such as salaries and social benefits, despite the war’s economic toll.

Discussions also covered the potential utilization of frozen Russian assets to further aid Ukraine’s financial recovery. Both leaders explored methods to extend sanctions on these assets as part of the broader strategy to address Ukraine’s fiscal challenges.

Lagarde reiterated the ECB’s commitment to supporting Ukraine’s financial system, praising the efforts of the National Bank of Ukraine. The exchange between Zelenskyy and Lagarde reflects ongoing international efforts to bolster Ukraine’s economy in the face of adversity.