21:28 GMT06 June 2020
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    Ukraine needs to undertake steps swiftly to raise business confidence and draw private capital into the country, US Secretary of Commerce Penny Pritzker and Ukrainian Prime Minister Arseniy Yatsenyuk said in a joint statement on Friday.

    WASHINGTON (Sputnik) — The IMF is currently looking to release another portion of the $40 billion bailout package promised to Ukraine provided the country takes steps to reform its economy.

    “Both sides developed a roadmap featuring several short-term, actionable steps that will further increase business confidence and attract private capital,” the statement said. “Both sides underscored the urgency of such steps and the importance of actions by both Ukrainian government officials and the Rada to deepen said reforms.”

    On Monday, Pritzker during her visit to Ukraine announced the US government would provide Kiev with a third $1 billion loan guarantee in late 2015.

    “Both sides noted with satisfaction the US announcement of the Obama Administration’s intention to work with Congress to move forward with a third $1 billion loan guarantee designed to support progress on Ukraine’s anti-corruption and the economic reform agenda,” the statement said.

    The two leaders said that Ukraine will have to meet its financial obligations for an economic recovery and further growth.

    “Both sides affirmed that meeting all of Ukraine’s commitments in its International Monetary Fund program is essential to both near-term economic recovery and long-term growth,” the two leaders said.

    Ukraine's economy has been hit hard by the conflict between government forces and independence supporters in the country's southeast, who refused to recognize the coup-imposed nationalist government in Kiev in 2014.

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    Tags:
    International Monetary Fund, Verkhovna Rada, Penny Pritzker, Ukraine
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