KOENIGSWINTER, Germany (AP) 鈥� The Group of Seven leading economies agreed Friday to provide $19.8 billion in economic aid to Ukraine to ensure its finances do not hinder its ability to defend itself from .
German Finance Minister Christian Lindner told reporters that $9.5 billion of the total amount was mobilized at meetings of the G-7 finance ministers in Koenigswinter, Germany, this week.
鈥淲e agreed that Ukraine鈥檚 financial situation must have no influence on Ukraine鈥檚 ability to defend itself successfully,鈥� he said at a press conference to mark the end of the G-7 finance ministers' meeting. 鈥淲e need to do our utmost to end this war.鈥�
Russia's invasion touched on almost every topic of meetings this week, from the need to to reforming relationships between countries to maintain economic stability.
鈥淩ussia's war of aggression is causing global economic disruptions, impacting the , food production and , as well as the functioning of global supply chains in general,鈥� a G-7 statement says.
U.S. Treasury Secretary Janet Yellen and other leaders spoke this week about the need for allies to put together enough additional aid to help Ukraine 鈥済et through" the Russian invasion.
鈥淎ll of us pledged to do what鈥檚 necessary to fill the gap,鈥� Yellen said Thursday as the ministers finished their first of two days of talks. "We鈥檙e going to put together the resources that they need.鈥�
The International Monetary Fund's latest world economic outlook says Ukraine鈥檚 economy to shrink by 35% this year and next.
The finance ministers of the G-7 鈥� which includes sa国际传媒, France, Germany, Italy, Japan, the United Kingdom and the U.S. 鈥� also have grappled with deepening inflation, and other economic issues during their talks.
A communique marking the end of the G-7 finance ministers鈥� meeting addressed commitments to addressing debt distress in low-income countries, trying to ease the fallout from the coronavirus pandemic and staving off ."
As the finance ministers were meeting in Germany, the U.S. its own $40 billion infusion of military and economic aid for Ukraine and its allies. The legislation was backed by every voting Democrat and most Republicans.
Other issues of concern for G-7 finance leaders touched on the need for countries to increase scrutiny and and other digital assets and streamlining pandemic responses.
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Moulson reported from Berlin.
Fatima Hussein And Geir Moulson, The Associated Press
