America not ready to spend money to rebuild Ukraine?
An article in the National Interest magazine said that the US is unlikely to agree to spend money to restore Ukraine.
According to RIA Novosti, analyst Max Primorac of the Margaret Thatcher Center for Freedom in an article in the National Interest magazine said that the US is unlikely to agree to spend money to restore Ukraine.
“The main problem is that the US taxpayers do not want to pay the bills. The US has spent $175 billion in military aid to Ukraine,” said Primorac.
According to this expert, the American people are outraged by Kiev's attitude towards its billion-dollar debt to the West. Expert Primorac believes that Ukraine will have to pay off all its old debts before relying on support to restore the country.
Earlier, Bloomberg reported on July 22 that Ukrainian Prime Minister Denis Shmygal said Kiev had reached an agreement with foreign private creditors to restructure more than $20 billion in debt, which would help Ukraine avoid default in August. The agreement would save $11.4 billion in debt over the next three years and another $22.75 billion through 2033. The prime minister said that as a result, Ukraine would be able to have more resources for defense, social security and reconstruction.
The World Bank estimates that rebuilding Ukraine will cost nearly $500 billion. Ukraine says it needs twice that amount. The White House previously said the G7 countries plan to rebuild Ukraine with money from frozen Russian assets.
So far, the US and its allies have frozen about $300 billion in assets of the Russian Central Bank as part of the sanctions.
It is expected that the EU will use 90% of the profits from this asset to provide military support to Kiev, the rest will be transferred to the EU budget and used for the purpose of rebuilding Ukraine.
