Page 36 - UKRRptAug22

The NBU remains the largest contributor to the budget, having provided $7.7bn since the start of the war. Government-issued military bonds have raised another $4.2bn as of July 21 (graphic).
From the international donors, the US has been the most generous, having provided $4bn, ahead of the International Monetary Fund (IMF) that has provided $1.4bn, the same amount as the EU.
And more money has been committed but has been slow to arrive. The EU has promised a $10.4bn support package, although only $1.3bn has actually been disbursed, or some 14% of the promised total. Western financial aid has been dogged by bureaucratic delays, fuelled by fears that any cash sent to Kyiv will just be stolen.
Ukrainian President Volodymyr Zelenskiy has been working hard to reassure the West that he has corruption under control. The president launched a purge of the security services (SBU) last week and over the weekend it was revealed that he will strip oligarch Ihor Kolomoisky of his citizenship, opening the way to the latter's arrest for fraud and extradition to the US, where he is being investigated for money laundering on a massive scale. Kolomoisky has operated with impunity in Ukraine since he returned to the country following Zelenskiy’s election in April 2019, and the president’s move against him is designed to signal that Bankova is now getting tough with the oligarchs, say experts.
Zelenskiy is hoping to unblock more aid from the West. Amongst the donors the US has only sent 41% of the total $9.7bn promised, Canada 89% of $1.3bn, and the UK 52% of $1.1bn. All together the western donors have promised $28.8bn, of which a total of 44% has arrived, or $12.7bn, of which $7.2bn is in the form of loans and $5.5bn is grants that don’t have to be repaid. $16bn remains undistributed (graphic).
Ukraine is desperate need of funding as the economy teeters on the edge of a financial and balance of payments crisis. The NBU has already been forced to put in a crushing rate hike to 25% on June 2 and followed up last week with a 25% devaluation of the currency on July 21.
Ukraine monthly grain exports (mn tonnes)
36 UKRAINE Country Report XXXX 2018 www.intellinews.com