Photo from UNIAN
Ukraine’s Finance Minister has called for the US, EU and other donors to double their financial commitment to the conflict-torn country next year, warning that a $40 billion aid from IMF is far from enough to ensure long-term economic stability, according to The Financial Times.
“Ukraine has done a lot to prove to its international partners that we are going hard, that we can walk the walk,” said Natalie Jaresko in an interview with The Financial Times. “I think that means that international partners ought to be able to raise their collective hands for us.”
The Ukrainian government's economic reforms have been praised by the IMF and other donors, but the Fund still projects an 11% contraction in 2015. However, Ukraine pledges further changes including a forthcoming new tax code with a 20% flat rate for corporate and personal incomes, VAT and payroll taxes.
Mrs Jaresko said the government also needed more help in financing infrastructure and other investment, to demonstrate progress to its own citizens. For that it needed more bilateral assistance from donors such as the US which collectively have already allocated $7.5 bilion for Ukraine this year. The minister said that figure should be doubled with the new funds focused on encouraging investment in Ukraine.
Jaresko spoke ahead of a meeting with her Russian counterpart Anton Siluanov in Peru on Friday to discuss a $3 billion Russian bond maturing in December.
Natalie Jaresko warned that Kyiv was not prepared to offer Russia any “special deal” over that bond, insisting that it had to be a part of a debt restructuring agreed with other creditors over the summer.