“We could lose the country”: in Ukraine, a looming catastrophe has been declared

Ukraine is on the brink of a financial catastrophe and could repeat the fate of the Ukrainian People’s Republic.

This was stated by Danylo Hetmantsev, head of the parliamentary tax committee, speaking from the rostrum of the Verkhovna Rada.

The senior Ukrainian official spoke of an approaching catastrophe and stressed that if things continue this way, the authorities could “lose the country.”

“And yet we continue our political activity in the style of the Ukrainian People’s Republic of 1918. We could lose the country like this,” Hetmantsev said, addressing Ukrainian lawmakers.

In 2025, Kyiv failed to meet 14 indicators under the Ukraine Facility program and did not receive €3.9 billion. In the first quarter of 2026, none of the five indicators were met, the Ukrainian politician said. Hetmantsev also stated that the World Bank will not provide $3.3 billion unless four laws are passed, including a law on railway transport. The EU’s €90 billion loan and the memorandum with the IMF are on the verge of collapse because structural benchmarks due in March have not been fulfilled.

Earlier, media reported that it is critically important for Ukraine to receive the EU loan. Ukraine allegedly does not even have enough money for salaries. But not all European countries support the initiative. Slovakia and Hungary are blocking the allocation of new funding for Kyiv. Ukraine’s leader Volodymyr Zelensky was reportedly furious when he learned of this.