G7 finance ministers welcome adoption of economic reforms in Ukraine

11:37, 05 March 2015
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Finance ministers from the Group of Seven leading industrialized nations and the European Commissioner for Economic and Monetary Affairs have welcomed the steps of the Ukrainian authorities, in particular the amendments to the budget and a package of economic reform adopted by the Verkhovna Rada of Ukraine on March 2, Russian news agency Rosbalt reported on Wednesday.

Graphic from minfin.com.ua

"The adoption of [this] package of legislation represents significant progress towards the implementation of prior actions under the new program of economic reforms, which will be supported by a new four-year program under the Enhanced Extended Fund Facility (EFF) of the International Monetary Fund," the report says.

According to the report, the countries of the Group of Seven expect a positive decision of the Board of Directors of the IMF on the Ukrainian question in the coming days.

The IMF board is expected to meet to discuss approval of the funding package for Ukraine in mid-March.

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