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US, EU Aid Insufficient to Fix Ukraine Economy - Finance Minister

© AFP 2023 / YURIY KIRNICHNYUkrainian Finance Minister Natalie Jaresko gastures as she speaks during an interview with an AFP journalist in Kiev on August 27, 2015
Ukrainian Finance Minister Natalie Jaresko gastures as she speaks during an interview with an AFP journalist in Kiev on August 27, 2015 - Sputnik International
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Ukrainian Finance Minister Natalie Jaresko said that Financial aid from the United States and the European Union is not enough to repair Ukraine's ailing economy.

International Monetary Fund (IMF) Managing Director Christine Lagarde - Sputnik International
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KIEV (Sputnik) Financial aid from the United States and the European Union is not enough to repair Ukraine's ailing economy, Ukrainian Finance Minister Natalie Jaresko said Friday.

"We do not have enough money to go further. It is enough for stabilization, [but] we need to invest in the economy, we need more support," Jaresko said at the Yalta European Strategy forum in the Ukrainian capital Kiev.

The economy minister clarified her remarks, adding that "we couldn’t live without" financing from Washington and Brussels.

Late last month, Ukraine secured a $3.6-billion – or 20 percent – write-down from its $18 billion debt with international creditors. The agreement was reached following 7 months of intense negotiations.

Washington-based International Monetary Fund has approved a four-year $17.5-billion assistance package to Ukraine, which has seen three disbursements to date.

Poland and Germany are the latest individual EU member states to approve multimillion-dollar loans to a Ukrainian economy increasingly reliant on foreign assistance.

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