Financing Ukraine’s Victory: Why and How #Ukraine

There is a risk that Ukraine’s war effort may be undermined by inadequate external support, leading to excessive reliance on monetary financing, which would drive high inflation, risk a currency crisis, and could undermine the war effort just as the military tide is turning in Ukraine’s favour.

The authors of the CEPR Policy Insight argue that donors should fund Ukraine next year and describes how best to do it.


  • Torbjörn Becker
  • Olena Bilan
  • Yuriy Gorodnichenko
  • Tymofiy Mylovanov
  • Jacob Nell
  • Nataliia Shapoval

Read the CEPR Policy Insight to learn more (see here).

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