Ukraine's debt relief, vital for the country's economic future - Main contents
The ALDE Group in the European Parliament welcomes the agreement reached by the Ukrainian Government with its international creditors to slash the 18 billion US dollars debt by 20 percent which pushes back maturities on government debt by four years. This provides the country immediate debt relief of approximately $3.6 billion which is vital for the conflict-ravaged nation to put its economy back on track.
ALDE Group leader, Guy Verhofstadt, said:
"We welcome the achievement of the negotiations, which looks like a breath of fresh air for Kiev. Having the debt relieved by 20 percent gives Ukraine some room for manoeuvre and improves the chances for an economic recovery. This should lead also to an increase on efforts to implement the structural reforms. Russia should join the restructuring program as well, on the same conditions as other creditors, showing its readiness to cooperate with Ukraine."
MEP Hans van Baalen (VVD, The Netherlands), ALDE Group spokesman on Russia and Ukraine, added:
"The agreement creates a solid basis for economic recovery. Now the Ukrainian government should double its efforts to fight corruption and implement structural reforms to modernize the state and the economy."