Arab Today, arab today us signs 1bn loan guarantee for ukraine
Last Updated : GMT 03:56:14
Arab Today, arab today
Arab Today, arab today

US signs $1bn loan guarantee for Ukraine

Arab Today, arab today

Arab Today, arab today US signs $1bn loan guarantee for Ukraine

A market vendor sells fruit and vegetables
Washington - AFP

The United States signed Monday its second $1 billion loan guarantee deal for Ukraine aimed at helping the crisis-wracked country surmount a Russia-backed insurgency and rebuild its tattered economy.

The US loan guarantee agreement is part of a $7.5 billion package of support for Ukraine over the coming year from its bilateral and multilateral partners, the Ukrainian finance ministry said.

"On behalf of my government and the people of Ukraine, I want to offer our sincere thanks to the United States for their continued and unwavering support. This loan guarantee is a cornerstone of that support and comes at a critical time for our country," said Finance Minister Natalie Jaresko in a statement.

With the US guarantee, market participants will view the risk of Ukrainian Eurobonds at the high credit rating of US sovereign debt.

US Treasury Secretary Jacob Lew said that the $1 billion loan guarantee underscores Washington's continued support for the economic reform agenda of the Ukrainian government of President Petro Poroshenko.

"Since we signed our first loan guarantee agreement one year ago, Ukraine has worked closely with the IMF, the World Bank, the United States, and other members of the international community to implement a robust reform program that will help stabilize Ukraine's economy and lay the groundwork for future growth and prosperity," Lew said in a statement.

"Ukraine has taken critical reforms already, and its commitment to making a decisive break with the corruption and stagnation of the past is clear. This progress must continue so that the people of Ukraine can realize the prosperity and stability they deserve."

The loan announcement came as Ukraine is in difficult negotiations with private creditors to restructure $15 billion in debt, a key step of its $40 billion international bailout orchestrated by the International Monetary Fund.

The debt restructuring is needed to pass the first review of the IMF's $17.5 billion portion of the bailout that would unblock the next tranche of the institution's aid.

Ukrainian forces have been battling pro-Russian separatists since April 2014 in eastern Ukraine in a bid to prevent the secession of the Russian-speaking regions of Donetsk and Lugansk.

The West and Kiev have accused the Kremlin of instigating the insurgency and supporting militants with weapons, funds and troops. Moscow has denied the claims. A tenuous February truce was broken by more violence Monday that claimed the lives of at least four Ukrainian servicemen.

Torn apart by the insurgency in its industrial east and economic crisis, Ukraine's debt has exploded to almost 100 percent of its gross domestic product. The economy shrank 17.6 percent in the first quarter from a year ago.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us signs 1bn loan guarantee for ukraine Arab Today, arab today us signs 1bn loan guarantee for ukraine

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us signs 1bn loan guarantee for ukraine Arab Today, arab today us signs 1bn loan guarantee for ukraine

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday