The meeting of the Board of Directors of the International Monetary Fund has
just wound up and a decision was approved to grant a USD 17.5 billion loan to Ukraine.
This is a four-year program, which is a response to the ongoing reforms in
Ukraine and which obliges us not to stop but proceed.
The program envisages a four-year plan for economic and financial stabilization
within the country and also opens the door for another USD 7.5 billion assistance
to ensure stabilization and growth of the Ukrainian economy.
Thus, during four years Ukraine will receive an overall loan worth USD 25
billion, which will enable us to stabilize the economy, to stabilize the
financial sector, they are directed to regulate the
exchange rate of the country and will provide an opportunity for the Ukrainian
economy to grow starting in 2016.
I want to express my gratitude to the members of the parliamentary
coalition for the support of Governmental initiatives and to the President of
Ukraine for we acted together in the process of drafting, signing and implementing
of our joint reform program. This reform program is neither designed by the International
Monetary Fund nor envisaged for the International Monetary Fund. This is the programme
of changes and reforms for Ukraine.
We are well aware that it is the beginning and the continuation of the
difficult path. A complex way to ensure stabilization of the economy and lay
the foundation for the economic growth, creating new jobs, raising living
standards, increasing wages, improving trade performance and entrepreneurship.
Now we are going through quite a difficult period, but this period is a key
to creating a very powerful and strong economic, financial, social and political
future of Ukraine.
We have received very broad support of our international partners, and despite
all the efforts of the Russian Federation, we have managed to prove to the
world that we are pursuing the reforms, and only under the implemented reforms
the International Monetary Fund decided to provide the financial assistance to
On our agenda there is now the implementation of all activities included
into the Action Programme for the Cabinet of Ministers and the coalition
agreement. These are further tax reform, social, economic reforms, also
deregulation, curbing corruption, reducing the burden on the State Budget through
termination of certain inefficient programs. It is a comprehensive and
inclusive plan for a new Ukraine, a European Ukraine, which is backed by our western
partners and our allies.
There is no need to celebrate much as we've worked hard to have this
program approved, and there is much more to be done to facilitate that Ukraine could
become a strong, economically mature and politically stable state. Despite the
fact that the Russian Federation has been trying to destabilize the situation
in the country and continues its actions, we will survive, overcome and will further
pursue the way towards a European Ukraine and will not deviate from this
complex, but the only right choice for Ukraine and the Ukrainians.