IMF, EU Eager to Lend to Ukraine

Finance | December 10, 2013, Tuesday // 20:36|  views

Photo by EPA/BGNES

The International Monetary Fund and the EU have stated that they are ready to lend out resources to Ukraine in return for reforms.

"The IMF is ready to offer support for Ukraine if the country implments the needed reforms, in particular those relating to its national currency and the price of energy," stated IMF President Christine Lagarde.

At the same time, in a separate statement in front of the European Parliament, Enlargement Commissioner Stefan Fule said the EU is also supprotive of a loans for reforms program.

"We are ready to help and support Ukraine in the process of modernization, via IMF macrofinance loans and the EU financial assistance programs," said Fule.

"We are ready to help Ukraine impement the Association Agreement with the EU when it is signed, as well as to draw in other international partners," added he.

End of November Ukraine's government decided not to sign the agreement, arguing a liberalization of trade ties with the EU would prove detrimental to the country at the present moment.

At about the same time, they also rejected an IMF loan offer, arguing that the reforms proposed would exert gravely negative economic and social effects.

The Ukrainian government has however vowed to pursue the road to European integration, but after additional negotiations.

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Tags: christine lagarde, IMF, loan, reforms, International Monetary Fund, Stefan Fule, EU, european integration, Ukraine, Ukrainian


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