Currency converter
News Feed
News Search Topics
Use filter
You can filter your feed,
by choosing only interesting

World Bank to tie aid to Ukraine to economic reforms there

March 15, 2014, 0:00 UTC+3 NEW YORK
Material has 1 page

NEW YORK, March 14, /ITAR-TASS/. Allocation of financial aid to Ukraine in the amount of $ 3 billion will depend on the effectuation of structural reforms by the Kiev government, World Bank President Jim Yong Kim said in an interview with Bloomberg.

The report said that Kim, who met with acting Ukrainian Prime Minister Arseniy Yatsenyuk in Washington this week, said it would not be easy for Ukraine to carry out the changes it has pledged.

“Even in the midst of all these political difficulties, they’re going to do things like remove fuel subsidies,” Kim said on Bloomberg TV’s “Market Makers” program.

“We feel that they’re moving forward, so we’re going to be able to move forward we think fairly quickly, if they continue on that path to being committed to those reforms,” he said.

Yatsenyuk is seeking financial aid from Western donors, including $15 billion from the IMF, Bloomberg said.

As he spoke to his hosts in Washington, he promised “real reforms” to stabilize the national economy, currently plagued by a sliding currency and deepening budget deficits.

The IMF has issued persistent calls to the Ukrainian government to reduce the deficit, to allow the currency to fluctuate and to stop paying out gas subsidies that amount to 7.5% of the Ukrainian economy.

Показать еще
In other media