G-7 Finance Heads Vow Extra 19.8-B.-Dlr Aid to Ukraine

Economy Politics

Bonn, Germany, May 20 (Jiji Press)--Top financial officials of the Group of Seven major powers Friday agreed to provide 19.8 billion dollars in additional aid within 2022 to Ukraine, which is seeking financial support amid Russia's invasion.

In a communique adopted to wrap up their two-day meeting near Bonn, Germany, the G-7 finance ministers and central bank governors affirmed their unity in imposing sanctions on Russia and supporting Ukraine.

The communique said that energy and food prices have surged due to the war in Ukraine, boosting inflation rates to levels not seen for decades.

With interest rate increases by U.S. and other central banks in mind, the statement said that G-7 central banks "will continue to appropriately calibrate the pace of monetary policy tightening in a data-dependent and clearly communicated manner."

In a meeting in Washington in April, the G-7 countries had agreed to provide over 24 billion dollars to Ukraine.

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