WASHINGTON (Sputnik) — On Wednesday, US Vice President Joe Biden called on Ukraine to stay on the path of reform, and the US government might potentially provide Kiev with an additional $1 billion in loan guarantees by the end of 2015 if it stays the course.
“[The Ukrainian government’s] immediate focus is stabilizing the weak economy which has necessitated measures like increased import tariffs and administrative currency controls that are not business-friendly.”
Moreover, the report warned foreign investors that in practice, “Ukraine’s court system is viewed as ineffectual, corrupt and in dire need of reform.”
The report noted, however, Ukraine has already made tangible progress on the way to reform, but more work remains to be done amid difficult conditions.
“The challenge of implementing a robust reform program during a period of political transition, economic contraction and military conflict in the East is daunting.”
The United States has already provided Ukraine with $470 million in economic assistence, according to the White House.