US plans to offer up to $1 billion in credit guarantees to Kiev

U.S plans to offer up to $1 billion in credit guarantees to help Ukraine weather the threat of war with Russia, the White House announced Monday.

“It is something that we are considering as part of the additional macroeconomic support to help the economy of Ukraine in this pressure resulting from the military concentration of Russia”said White House deputy press secretary Karine Jean-Pierre.

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The official did not elaborate on what it will take to approve that US financial support, which would make it much easier and probably cheaper for the government of Ukraine borrow money.

Ukraine It is one of the poorest countries in Europe and its economy plagued by corruption has suffered increased tensions due to the possibility of an invasion by Russia, which has deployed more than 100,000 soldiers in areas of the common border.

National Security Advisor U.SJake Sullivan briefed congressional leaders on the plan on Monday, according to a source familiar with the matter.

Sullivan reiterated on Sunday that the Russians could attack Ukraine “this week”.

In addition to economic and humanitarian aid, Washington already provided $650 million in military assistance to Kiev last year.

German Chancellor Olaf Scholz said during a visit to Kiev on Monday that he is “decided” to maintain aid to Ukraine.

At the same time, the G7 finance ministers stressed on Monday that they are prepared to impose “In a very short time” economic and financial sanctions “with important and immediate consequences for the Russian economy”in case of military aggression against Ukraine.

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Source: Elcomercio

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