The meeting of the Board of
Directors of the International Monetary Fund has just wound up and a decision
was approved to grant a USD 17.5 billion loan to Ukraine. This is a four-year
program, which is a response to the ongoing reforms in Ukraine and which obliges
us not to stop but proceed.
The program envisages a
four-year plan for economic and financial stabilization within the country and
also opens the door for another USD 7.5 billion assistance to ensure
stabilization and growth of the Ukrainian economy.
Thus, during four years
Ukraine will receive an overall loan worth USD 25 billion, which will enable us
to stabilize the economy, to stabilize the financial sector, they are
directed to regulate the exchange rate of the country and will provide an
opportunity for the Ukrainian economy to grow starting in 2016.
I want to express my gratitude
to the members of the parliamentary coalition for the support of Governmental initiatives
and to the President of Ukraine for we acted together in the process of
drafting, signing and implementing of our joint reform program. This reform
program is neither designed by the International Monetary Fund nor envisaged
for the International Monetary Fund. This is the programme of changes and
reforms for Ukraine.
We are well aware that it is
the beginning and the continuation of the difficult path. A complex way to
ensure stabilization of the economy and lay the foundation for the economic growth,
creating new jobs, raising living standards, increasing wages, improving trade
performance and entrepreneurship.
Now we are going through quite
a difficult period, but this period is a key to creating a very powerful and
strong economic, financial, social and political future of Ukraine.
We have received very broad
support of our international partners, and despite all the efforts of the
Russian Federation, we have managed to prove to the world that we are pursuing
the reforms, and only under the implemented reforms the International Monetary
Fund decided to provide the financial assistance to Ukraine.
On our agenda there is now the
implementation of all activities included into the Action Programme for the
Cabinet of Ministers and the coalition agreement. These are further tax reform,
social, economic reforms, also deregulation, curbing corruption, reducing the
burden on the State Budget through termination of certain inefficient programs.
It is a comprehensive and inclusive plan for a new Ukraine, a European Ukraine,
which is backed by our western partners and our allies.
There is no need to celebrate much as we've worked hard to have this program approved, and there is much more to be done to facilitate that Ukraine could become a strong, economically mature and politically stable state. Despite the fact that the Russian Federation has been trying to destabilize the situation in the country and continues its actions, we will survive, overcome and will further pursue the way towards a European Ukraine and will not deviate from this complex, but the only right choice for Ukraine and the Ukrainians.
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