On November 13, minister of finance of Ukraine Natalie Jaresko had a meeting with US state secretary of the treasury Jacob Lew. The ministers of two countries discussed the progress of the economic reforms in Ukraine, the implementation of the cooperation program of Ukraine and the IMF and the current visit of the IMF Mission in Ukraine which began on November 12. The parties also touched upon the issues which are subject to the Mission’s visit: recovery of public finance, elaboration of the draft budget for 2016 based on the tax reform, structural reforms aimed to cut the state budget expenses.
The parties also discussed terms for granting new US loan guarantees to Ukraine amounting USD 1b which would enable Ukraine to intensify the implementation of the already launched reforms.
"The adoption of the well-balanced budget for 2016 and implementation of reforms agreed in the memorandum with the IMF will enable Ukraine to receive financial aid from the USA amounting almost USD 4b including loan guarantees for USD 1b and a new tranche from the IMF amounting USD 1.7b. This package totaling USD 4b will significantly strengthen our currency reserves which are now at USD 13b", finance minister of Ukraine Natalie Jaresko said in this regard.
The US Government has already provided loan guarantees to Ukraine amounting USD 2b including USD 1b in 2014 and USD 1b in the current year. The third loan guarantee for another USD 1b will depend on the progress in the reforms and hence on the further cooperation between Ukraine and the IMF.
«On behalf of the Ministry of Finance, the Government of Ukraine and all citizens of Ukraine I want to say “thank you” to my colleague, Mr. State Secretary Jacob Lew for his visit to Ukraine which reaffirms the active support provided by the United States of America to the reform process in Ukraine. We appreciate this visit as an important sign of partnership and support as well as acknowledgement of tremendous work which has been done to return the Ukrainian economy to recovery and growth. This meeting also demonstrates that our partners are aware that we must continue our hard way», minister of finance Natalie Jaresko said.
US state secretary of the treasury Jacob Lew emphasized the importance of the open dialogue on the implementation of the reform plan in Ukraine including further reforms in the energy supply sector and tackling corruption in Ukraine.