Lagarde: Restructuring of Ukraine’s Sovereign Debt Must Be Conducted Quickly

WASHINGTON (Sputnik) — The Ukrainian government has taken big steps to correct the economic crisis in the country, but there is still more work to be done, including the restructuring of Ukraine’s remaining debt, International Monetary Fund (IMF) Managing Director Christine Lagarde said in press release.

"A sustainable recovery requires completing the structural transformation of the economy, where much remains to be done, including combating corruption and improving governance," Lagarde stated on Wednesday.

Lagarde also noted the main focus for the recovery needs to be on improving tax and customs administrations, and parametric pension reform. Earlier on Wednesday the IMF announced it has allocated a new $1 billion Tranche to Ukraine.