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 the West does not have to face his aggressive designs against the United States and its NATO allies in eastern Europe—makes these questions very important to 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, senior director of the Atlantic Council’s GeoEconomics Center, for a one-on-one discussion on how to sustain and rebuild Ukraine’s economy. Nataliya Katser-Buchkovska, co-founder of the Ukrainian Sustainable Fund, offers introductory remarks.
Minister Serhiy Marchenko
Minister of Finance
Europe in crisis
War in Ukraine
In February 2022, Moscow launched an all-out invasion of Ukraine after a months-long military build-up, threatening the country’s sovereignty and its future. This existential moment for the country follows the 2014 Maidan revolution, a nexus for Ukraine’s Europe-focused foreign policy and reform efforts. The ensuing Russian invasion and occupation of Crimea, aggression in Ukraine’s east, and Kremlin disinformation efforts, cast a shadow over Ukraine’s independence.
UkraineAlert Jun 17, 2022
Why fear of provoking Putin is the most provocative policy of all
It is now abundantly clear that cautious policies toward Russia driven by a misguided fear of provoking Putin have in fact provoked Europe’s biggest war since the days of Hitler and Stalin, argues Alyona Getmanchuk.
New Atlanticist Jun 16, 2022
How NATO can stick together and keep the pressure on Russia, according to four former Alliance chiefs
By Katherine Walla
Four former NATO chiefs gathered at the Atlantic Council to weigh in on the Alliance’s response to the war in Ukraine, enlargement, and the next plays in its playbook.
At the intersection of economics, finance, and foreign policy, the GeoEconomics Center is a translation hub with the goal of helping shape a better global economic future.
The Eurasia Center’s mission is to enhance transatlantic cooperation in promoting stability, democratic values and prosperity in Eurasia, from Eastern Europe and Turkey in the West to the Caucasus, Russia and Central Asia in the East.