Kiev Must Make ‘Significant’ Reforms Before IMF Funds Disbursed - Kerry

© AFP 2023 / JIM WATSON / POOLUS Secretary of State John Kerry (L) talks with Ukrainian Prime Minister Arseniy Yatsenyuk
US Secretary of State John Kerry (L) talks with Ukrainian Prime Minister Arseniy Yatsenyuk - Sputnik International
Ukraine must commit to extensive political reforms before the International Monetary Fund (IMF) disburses more funds from the massive loan package to Kiev, US Secretary of State John Kerry told the House of Representatives Committee on Appropriations on Wednesday.

WASHINGTON (Sputnik) — Kerry also noted "the reason the IMF has not been able to make a disbursement" is a 10 point requirement to the Kiev government "to move forward on their reforms."

"[W]here we need to have a significant reform effort, passage of laws the Rada has to ‘grab the bull by the horns here’," Kerry stated. "President Poroshenko has to push these reforms through and then there’s a chance that this money will in fact reach the right people and do the right things."

Ukrainian President Petro Poroshenko and International Monetary Fund (IMF) Managing Director Christine Lagarde shake hands during their meeting in Kiev, Ukraine, in this September 6, 2015 - Sputnik International
Collapse of Kiev Coalition May Lead to Financial Aid Cuts From West
Last March, the IMF approved a four-year program of financial aid to Ukraine, which stipulates a $17.5 billion loan over the next four years.

The Ukrainian government in turn has to implement new economic policies for the IMF to disburse the funds.

Earlier in February, the US investment banking firm Goldman Sachs suggested Ukraine has likely satisfied the majority of the IMF requirements for a second review. Goldman Sachs added, however, that concerns about Ukraine’s political stability were the main factor holding the review back.

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