U.S. Treasury Secretary Janet Yellen on Monday expressed her support for a fully financed and appropriately conditioned program with the International Monetary Fund (IMF) for Ukraine by the end of March. This was announced in a statement from U.S. Treasury following Yellen’s meeting with Ukrainian Finance Minister Serhiy Marchenko, where they discussed economic recovery efforts in Ukraine and how to best support them through IMF programs.
Yellen emphasized that this program must be tailored to meet the needs of Ukraine’s economy, while also providing sufficient resources to ensure it is successful over time. She noted that such an effort should include reforms designed to strengthen fiscal discipline, reduce corruption and increase transparency within government institutions as well as promote private sector-led growth opportunities throughout the country – all crucial elements needed for sustainable economic development in Ukraine going forward into 2021 and beyond.
The United States has been actively engaged with its international partners since 2014 when Russia annexed Crimea from Ukraine – further destabilizing their already fragile economy at risk due to years of political turmoil prior thereto – making financial assistance necessary if any real progress is expected moving forward towards stability both politically & economically speaking. With Yellen’s commitment, it appears there may be hope yet on the horizon before the end-March 2021 deadline set forth by the US treasury department.
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