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PM says people who invested in the country today to be the best advertising for future investors
25.06.2015 | 12:45
Information and Communication Department of the Secretariat of the CMU

Prime Minister of Ukraine Arseniy Yatsenyuk and members of the Government are holding a meeting with the representatives of member companies of the American Chamber of Commerce in Ukraine and the European Business Association.

Opening the meeting, the PM has noted that economic growth is impossible without new investment.

"In order to attract new investments, we have to keep the current. And the best advocates of Ukraine, the best advertising for future foreign investors in Ukraine - it's you. These are those people who have invested in the country today. These are those people who can prove that Ukraine is a success story, in which you have to invest," he addressed to the representatives of the American Chamber of Commerce and the EBA.

He has emphasized that one of the main challenges facing the Cabinet of Ministers is the stabilization of the financial system: "This task is being performed due to the fact that we together with our partners from the IMF worked out a clear action plan, and every item of the action plan is being implemented by the Ukrainian Government. We are actively working with our Western partners in the framework of cooperation with the International Monetary Fund, World Bank, as well as with the European Investment Bank and the EBRD."

Arseniy Yatsenyuk has pointed out that the Government managed to do much in terms of fiscal and financial stability of the state budget, "But there is a very big challenge ahead - the restructuring of private debt. The Government of Ukraine and the Ministry of Finance and the Minister personally are sweating over this."

"We cannot now afford to service those debts that were accumulated primarily over the last three years, when Ukraine received $40 billion. The total amount of funds needed to service external debt equals our military spending. 5% of GDP we are spending on national security and defense, and 5% we have to spend on servicing foreign and domestic debt of the country," Arseniy Yatsenyuk said.

"Debt restructuring should be a guarantee of financial stability of the state," the Prime Minister highlighted.

 

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