Ukraine will establish a $10.1B 'rainy day fund', using ERA money.

Ukraine will establish a $10.1B 'rainy day fund', using ERA money.

Ukraine plans to allocate the external financing received from G7 countries through the ERA mechanism, funded by frozen Russian assets, into three parts. One portion will be designated for financing the current year’s budget, another for pre-financing the budget deficit for the following year, and the third will serve as conditional financing against critically negative scenarios. Last year, $1B was received through the ERA, this year $39.4B wil…