Lithuania’s Ministry of Finance announced that Finance Minister Kristupas Vaitiekunas will attend the Eurogroup and Economic and Financial Affairs Council meetings in Brussels on 19–20 January, with discussions expected to centre on additional funding for Ukraine and the selection process for the next Vice-President of the European Central Bank. Lithuania has nominated former finance minister Rimantas Šadžius for the ECB post. An informal Eurogroup vote on the submitted nominations is scheduled for 19 January and, if agreement is reached, ECOFIN is expected to decide on a recommendation to the European Council on 20 January; Estonia, Croatia, Latvia, Portugal and Finland have also put forward candidates. The Eurogroup agenda also includes an update on Bulgaria’s euro adoption, euro area recommendations for 2026 and information from the G7 meeting in Washington on 12 January, while ECOFIN will open with Cyprus presenting its Council Presidency work programme, alongside Lithuania’s call to accelerate work on the Savings and Investments Union, taxation issues and a modernised customs union. On Ukraine, ministers are expected to exchange views on the economic and financial impact of Russia’s aggression and the required support; the release notes that the European Council did not agree at end-2025 on using EUR 210 billion of frozen Russian assets for a Ukraine Reparations Loan, but did agree on a EUR 90 billion loan for 2026–2027 financed by European Commission market borrowing and covered by an EU budget guarantee, with disbursement decisions expected to be implemented as soon as possible. Lithuania also joined a political statement providing the International Monetary Fund with financial assurances for Ukraine, described as a prerequisite for approval of a new USD 8.1 billion IMF programme, while ECOFIN is also set to approve modified Recovery and Resilience Facility plans for six Member States and adopt European Semester and Excessive Deficit Procedure conclusions, decisions and recommendations.
Ministry of Finance (Lithuania) 2026-01-18
Lithuania’s Ministry of Finance outlines Eurogroup and ECOFIN priorities including Ukraine financing and the ECB Vice-President nomination
Lithuania’s Finance Minister Kristupas Vaitiekunas will attend Eurogroup and Economic and Financial Affairs Council meetings in Brussels on 19–20 January, focusing on Ukraine funding and the ECB Vice-President selection, with Lithuania nominating Rimantas Šadžius. Discussions will cover Bulgaria’s euro adoption, euro area recommendations for 2026, and a EUR 90 billion loan for Ukraine, while Lithuania supports accelerating work on the Savings and Investments Union and taxation issues.