Cetoex News – The United States Treasury Secretary, Janet Yellen, recently stated that the best way to aid the global economy is by sending billions to Ukraine. Speaking at the G20 summit of finance ministers in India, Yellen stated that redoubling support for Ukraine is the single best way to boost the global economy.

Yellen says is the single best way to boost economy

“Ending this war is first and foremost a moral imperative.” “But it’s also the single best thing we can do for the global economy,” said Yellen.

Janet Yellen addressed the criticism regarding the potential tradeoff between supporting Ukraine and other developing nations, stating her intention to counter such notions. Additionally, these remarks followed former Vice President Mike Pence’s call for increased assistance to Ukraine.

Amidst the ongoing Ukraine war, the Biden administration and the US Congress have allocated over $75 billion in aid to the country. Additionally, Following the invasion by Russia, there has been a surge in the price of fuel and food in Ukraine.

In 2022, amidst a series of unexpected events, the conflict between Russia and Ukraine emerged as a significant and unfortunate development. The war resulted in the displacement of millions of people, with many seeking refuge in other countries. Despite the challenging circumstances, the government demonstrated unwavering determination to combat the ongoing conflict.

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Cetoex News – The Pentagon has revealed that an accounting error has provided an additional $6.2 billion to Ukraine in military aid. Moreover, the US Defense Department Headquarters said that it overestimated the value of weapons sent to the country, according to a recent Yahoo report.

The overestimation that occurred over the last two years exceeded the actual value two times over. Nevertheless, the Pentagon had sent a surplus of $40 billion in military assistance to the country amidst its ongoing conflict with Russia. 

Pentagon Overestimates Ukraine Military Aid

Amidst the ongoing Russian conflict, the US has reportedly seen an accounting error result in a massive surplus of aid. Specifically, the Pentagon error has reportedly given an additional $6.2 billion to Ukraine due to an overestimation of value.

A Pentagon spokeswoman, Sabrina Singh, stated that a review found “the military services used replacement costs rather than the book value of equipment that was pulled from Pentagon stocks,” Yahoo reported. 

Moreover, she stated that calculations show an error of $3.6 billion in the current fiscal year. Additionally, there was a $2.6 billion error in the 2022 fiscal year, which concluded on September 30th. Subsequently, the report notes that the department will now have additional money to support the country’s counteroffensive against Russia. 

“It’s just going to go back into the pot of money that we have allocated for the future Pentagon stock drawdowns,” Singh said. Conversely, the Pentagon reported utilizing “presidential drawdown authority” to provide aid to Ukraine. Specifically, so that it could provide weapons, ammunition, and military equipment faster. 

Since Russia invaded the country, the report estimates that the US has provided more than $40 billion in military assistance to the country. However, provided with the new calculations, that figure is more likely to be around $34 billion.

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