JRL NEWSWATCH: “Top Biden Officials Press Congress for More Economic Aid to Ukraine” – WSJ
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“Even Republicans who support arming Ukraine are skeptical of providing more cash to the country’s government.”
“… [Some] top Biden administration officials [have] urged [Congress] to provide $11.8 billion in direct budget support to Kyiv to help pay … day-to-day bills. … part of a roughly $106 billion emergency funding request covering Ukraine, Israel and other issues. … Ukraine’s economy fell into … deep recession after Russia invaded … contracting 29% [in 2022]. … [Now] the [Ukrainian] economy has started to grow …. Aid from the U.S., … [EU] and other Western allies, has helped Ukraine [to] pay for nonmilitary government expenses [such as] … civil servants. … [to] stop monetizing [Ukraine’s] own debt, which spurred inflation … and [to] ease … currency controls. Those steps help create economic activity … fill[ing] … government[] coffers and support[ing] a domestic debt market to pay for the war. A sudden halt to U.S. economic aid would derail [Ukrainian] economic gains, likely requiring the central bank to start buying the country’s debt and printing money again. A $15.6 billion [IMF] program supporting Ukraine is also premised upon continued aid from the U.S. and its allies ….”