EU’ financial aid to Ukraine will hinge on reforms

The scale of further European Union financial aid to Ukraine will depend on the government’s ability to push through promised reforms, the EU envoy said on Thursday, as the central bank forecast the war-torn economy shrinking 4.3 percent in 2015.
International lenders, together with the European Union, have already offered billions of dollars to support the Ukrainian economy, which is reeling from the cost of fighting a separatist rebellion following the ousting of a government known for corruption and economic mismanagement.
Kiev promised to crack down on corrupt practices and reform state institutions in exchange for the $27-billion international funding package, but has since warned it may need more funds due to the financial burden of the war.
The exact level of further EU assistance will depend on the will of the government to push through reforms critical to long-term stability, EU Ambassador to Ukraine Jan Tombinski said at an investment forum organised by CFA Society Ukraine.
«The scale of our engagement depends closely on the determination of the Ukrainian side to run through the programme of reforms … We measure the determination mainly through implementation, not through adoption of legislative acts,» he said.

Продолжение здесь: IPnews

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