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Experts sceptic about opposition leader’s motion on financial aid to Ukraine

February 06, 2014, 14:38 UTC+3 KIEV
The International Monetary Fund (IMF) did not deny that it could provide a loan to Ukraine, though experts seem sceptic about that
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Ukrainian opposition leaders with the head of EU diplomacy Catherine Ashton

Ukrainian opposition leaders with the head of EU diplomacy Catherine Ashton

© EPA/ANDREW KRAVCHENKO / POOL

KIEV, February 06. /ITAR-TASS/. Local experts express scepticism about a preliminary agreement by one of the leaders of Ukraine’s opposition Arseny Yatsenyuk on the West’s readiness to provide $15 billion to Ukraine.

Director of International Programmes at the Razumkov Centre for Economic and Political Studies Vassily Yurchishin said, “I agree taht Yatsenyuk has held talks in Munich over financial support.”

“Earlier, the International Monetary Fund (IMF) did not deny that it could provide a loan to Ukraine if the country complied with certain conditions,” the expert said.

“If there are any agreements, they can be considered nominal. It is early to talk about any concrete plans. Moreover, the situation in the world is changing every day,” he added.

Another expert, famous economist, member of the Entrepreneurship Council at the Ukrainian government Viktor Lisitsky said Yatsenyuk’s statement “is unsubstantial because either European or American politicians said nothing”. 

EU High Representative for Foreign Affairs and Security Policy Catherine Ashton also talked about aid to Ukraine, the expert told Itar-Tass. But the EU foreign policy chief did not mention any sum or conditions, the expert added.

Statements by the European Central Bank head, or the EU finance minister, or commissioners for financial institutions, or U.S. and European politicians will give a signal for such motion, he said.

The West’s real financial support will depend “on a political team, which will be formed in Ukraine”. “If people, whom world business trusts to, come to power in Ukraine, we can hope that funding will be provided. The sum of $15 billion will be enough to stabilise the situation in the country,” Lisitsky said.

In early February upon the return from the Munich Security Conference Yatsenyuk said the United States and the European Union were ready to provide 15 billion dollars to Ukraine if a new government carried out a constitutional reform.

The funding can be provided by the International Monetary Fund and the World Bank. Macro-financial assistance can be provided by the European Union, the European Investment Bank, private investors from the EU and the U.S. “We believe that the minimal sum needed for us is $15 billion,” Yatsenyuk said.

In the meantime, Ashton’s spokeswoman Maya Kocijancic said there was no concrete plan to render financial aid to Ukraine.

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