WASHINGTON (Sputnik) — The US companies will invest in Ukraine only in case the country continues its reforms and meets its IMF obligations, US Ambassador to Ukraine Geoffrey Pyatt stated at the "Hybrid Solutions for Security in the Black Sea Region" Conference in Odessa on Thursday.
"Many international businesses, including American companies, see tremendous potential in Ukraine. But they will only come and invest if they see that the government sticks to the path of reform, that the Ukrainian government upholds its IMF commitments, and that the government continues to make progress on critical rule-of-law reforms," Pyatt said.
The ambassador added that US companies need assurances that the risks they are taking are solely business ones, and not political.
"If Ukraine puts its own political house in order, not only will others be able to help Ukraine stand up, but Ukraine will more quickly be able to stand on its own," he added.
Since the overthrow of former Ukrainian President Victor Yanukovych, the United States has provided Ukraine with $760 million in aid and two loan guarantees worth $2 million.
The IMF has pledged a $17.5 billion bailout package for Ukraine in exchange for political reforms.
In February, International Monetary Fund (IMF) Managing Director Christine Lagarde announced that Ukraine risks returning to a pattern of failed economic policies characterized by slow progress in fighting corruption and influence in policymaking, as well as in improving governance.
Lagarde underscored that the IMF financial assistance program to Kiev could not be successful without an effort to implement reforms.
Following the statement, Ukrainian President Petro Poroshenko pledged Kiev’s commitment to anti-corruption measures.