$40-billion aid not enough for Ukraine’s economic stability: Minister
Ukrainian Finance Minister Natalia Yaresko says a 40-billion-dollar bailout from the country’s international creditors is not enough to guarantee the country’s economic stability.
In a Saturday interview with the Financial Times, Yaresko urged Ukraine’s creditors including the International Monetary Fund (IMF), the United States and the European Union to double monetary assistance to the conflict-torn country in 2016.
"Ukraine did everything possible to show its international partners that we do our best and that we are able to live up to our promises," Yaresko said, adding, "I think it means that international partners should unanimously support us."
On March 11, the IMF approved a 17.5-billion-dollar loan program for Ukraine, which is part of an ambitious 40-billion-dollar program for the cash-strapped country to be paid over 4 years.
The creditors will vote on Wednesday on whether to unlock the 40-billion-dollar financing package for Kiev.
Kiev needs more financial help from its creditors "to help finance infrastructure and other investment and demonstrate progress to its own citizens," Yaresko noted.
Ukraine has been pushed to the brink of bankruptcy following over a year of political upheaval and conflict with pro-Russia forces in the east.
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