Economics

President Poroshenko believes $ 13-15 billion of international aid will be enough for Ukraine

13 january 2015 | 12:05

This amount includes aid from the US, Canada, Japan, EU, IMF and World Bank

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President of Ukraine Petro Poroshenko announced that Ukraine would need international financial assistance amounting to $ 15 billion in the next two years.
torange.biz
While having an interview with France 24, Petro Poroshenko announced that the amount of $ 13-15 billion would include assistance from the US, Canada, Japan, the EU, the IMF and the World Bank. The Ukrainian president said that the amount of aid to Ukraine would be finally determined after consultations with the IMF.
Read more: President Poroshenko's team expects IMF loan in late January

Earlier, the Finance Minister Natalia Jaresko expressed confidence in getting new international loans for Ukraine. She also said that the Ukrainian government is looking forward for the reform plan been approved by the creditors.

At the same time, she recognized that creditors may require broadening of the tax base (an increase of taxes), deregulation of the economy, improving of the business climate and the sale of state assets (privatization).

Last week, the famous investor George Soros announced that the Ukrainian crisis could be solved if the EU anti-Russian sanctions are complemented by a large-scale financial assistance for Ukraine amounting to $ 50 billion.

In February 2014 Kyiv estimated that the size of macro-financial assistance must be around $ 35 billion. In April, the IMF announced about the allocation of a stabilization loan of $ 17 billion for Ukraine. Credit tranches will be transferred by 2016. So far $ 8.2 billion has already been allocated.[article_attached position="2"]

In December, the IMF announced that additional $ 17 billion are needed in order to save Ukraine from a default.

Source: RBK-Ukraine

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