been working closely with international partners to develop an assistance package
that will help the Ukrainian government implement the reforms needed to restore
financial stability and return to economic growth. The new government of
Ukraine has said publicly and committed privately that it has the political
will to meet its urgent challenges. The United States is prepared to work
with its bilateral and multilateral partners to provide as much support as
Ukraine needs to restore financial stability and return to economic growth, if
the new government implements the necessary reforms.
request of the Ukrainian government, a mission from the International Monetary
Fund (IMF) is currently in Kyiv working with the Ukrainian authorities.
The IMF will be at the center of an international assistance package and
is best placed to support Ukraine’s implementation of robust and
market-oriented reforms. In parallel, the United States is working
alongside international partners to assemble a package to help make the IMF
program a success.
of this international effort, the United States has developed a package of
bilateral assistance focused on meeting Ukraine’s four most pressing
needs: implementing critical economic reforms and cushioning their impact
on vulnerable Ukrainians; conducting free, fair and inclusive elections, with
robust involvement by a strong and independent civil society and media;
combatting corruption and recovering stolen assets; and withstanding
politically motivated trade actions by Russia.
the U.S. Administration is working with Congress and the Government of Ukraine
to provide $1 billion in loan guarantees, the proceeds of which will be aimed
at protecting the most vulnerable Ukrainian households from the impact of the
needed economic adjustment. We are working with Congress to approve the 2010
IMF quota legislation, which would support the IMF's capacity to lend
additional resources to Ukraine, while also helping to preserve continued U.S.
leadership within this important institution. The United States is also
moving quickly to deploy a range of other financing and technical expertise,
utilizing a whole-of-government approach to support Ukraine. The
Departments of Commerce, Justice, Energy, State, Treasury, Federal Bureau of
Investigation, and the U.S. Agency for International Development are all
preparing to deploy rapid assistance. For example, the United States
Treasury is ready to dispatch highly experienced technical advisors to help the
Ukrainian financial authorities manage immediate market pressures and support
Ukraine as it negotiates with the IMF.