WASHINGTON (Sputnik) — “Government assistance is not a long-term answer [for Kiev]. Aid will never be a substitute for an equitable, transparent and flourishing marketplace driven by the private sector,” Pritzker said.
The US secretary of commerce added that the financial aid that the international community has provided is “essential in the short-term to give Ukraine the breathing room needed to transition to a durable economic profile.”
The conflict between Kiev forces and independence supporters in the country's east erupting in mid-April last year has left Ukraine on the verge of a default, while the country's currency, the hryvnia, has sharply dropped since 2014.
Kiev’s overall debt stands at roughly $70 billion, of which some $40 billion is owed to international lenders.
Ukraine has received aid from the US and international creditors to avoid default, as well as tried to implement structural economic reforms. However, the country remains racked by corruption despite reform measures, ranking 142 out of 175 countries, according to Transparency International’s corruption index.
