Washington Supports Reforms in Ukraine - Ukrainian Finance Minister

KYIV, Ukraine, June 27, 2012 /PRNewswire/ --

The U.S. is ready to provide support to the ongoing financial and economic reforms in Ukraine. This was stated by the Finance Minister of Ukraine Yuriy Kolobov during his official visit to the United States.

As a part of his visit, Minister Kolobov held a meeting with Lael Brainard, the United States Under Secretary of the Treasury for International Affairs. Washington set out to support Ukrainian reforms for the latter demonstrated a positive tendency, commented Kolobov on the statements made by the American side.

Ukrainian official also participated in a working consultation with the IMF where the experts primarily discussed the fiscal policy of Ukraine, reform in the gas sector and the refinancing the debt.

Notably, on June 25 the Finance Ministry of Ukraine repaid principal and paid coupon yield for Ukraine's US-nominated external bonds of 2007. The total payment amounted to USD 515.965 million. In 2007, Ukraine issued its external bonds with a total value of amounting to USD 500 million due in 2012. The interest rate was then set at 6.385 percent per annum.

Minister Kolobov will also hold a meeting with the World Bank Vice President. Earlier, on March 6, 2012 World Bank Vice President for the Europe and Central Asia Region Philippe Le Houérou stated: "We [the Board of the World Bank] recently approved the new Country Partnership Strategy (CPS) for Ukraine for 2012-2016, which promotes Ukraine's plan for conducting reforms."

Interestingly, on June 26, 2012 the former U.S. Secretary of State Henry Kissinger talked about United States-Ukraine relations as well as reforms implemented by Ukraine within the framework of European integration during his meeting with the President of Ukraine Viktor Yanukovych (Kyiv, Ukraine). "A country with such a big history deserves a dignified future," summoned the former Secretary of State. He, however, did not support Ukraine's NATO membership.

Instead, Kissinger expressed his support for Ukraine's ambitions of joining the European Union. "I am a strong advocate of an independent Ukraine. I believe Ukraine should be in the EU while maintaining good relations with Russia," stressed Kissinger.

Having travelled to Ukraine for the EURO 2012 European football championship Henry Kissinger praised Ukraine's preparations for hosting the major sporting event, highlighting the country's vast potential.

SOURCE Worldwide News Ukraine