U.S. Department of Treasury calls on Ukraine's creditors to move swiftly to complete debt restructuring

28.08.2015 р., 15:25

"We welcome the announcement that the Ukrainian authorities have reached agreement with the creditor committee on debt restructuring terms that are consistent with the objectives outlined in Ukraines IMF program we encourage creditors subject to this debt restructuring to move swiftly to complete the necessary steps to conclude this operation, which is critical to Ukraines future prosperity," reads a statement of Treasury Secretary Jacob J. Lew. "This progress builds upon the Ukrainian authorities significant efforts to improve the business climate, strengthen governance and competition, tackle corruption, repair the financial sector, and eliminate poorly targeted energy subsidies while protecting the most vulnerable members of society efforts that are wholeheartedly supported by the United States," he said. "This agreement will help to improve Ukraines public finances, provide the authorities with breathing room to execute their ambitious reform agenda, and strengthen the groundwork for economic recovery and private sector-led growth," reads the statement. "A strong, stable Ukraine is in the interests of Ukraines citizens, Ukraines neighbors, its international partners, and investors. We all must work together to achieve that goal, and todays agreement is an important step towards providing the people of Ukraine with economic opportunity and stability," Lew said.