Ukraine’s finance minister has urged rich nations to provide more aid to rebuild the country’s economy amid the conflict in the east of the country produced “probably the greatest humanitarian crisis” in Europe since the Second World War.
Natalie Jaresko told the Financial Times in an interview that a four-year, $40bn, IMF-led bailout finalised this month - including restructuring $15bn of debt - was enough to stabilise the financial and banking system. But that was a "first step".
"It's important for everyone to understand that this is the single time to invest in a country, and in a nation, that has lived and died by the principles of freedom and democracy and . . . for the European philosophy," she said.
"I believe strongly that the G7, and frankly speaking the broader G20, has a responsibility now to support Ukraine in a much bigger way financially," Ms Jaresko said.
Ms Jaresko stressed Ukraine was grateful for the $17.5bn IMF aid and other bilateral support totalling $7.5bn. But it was better to put in more now "because the cost of a failed state will be so much greater."