Accessibility links

Breaking News

White House Offers Ukraine Another $1 Billion Linked To Reforms


The White House has offered to provide a third $1 billion loan guarantee to Ukraine that would be contingent on the country's continued progress toward eliminating corruption and reforming taxes.

Vice President Joe Biden, in a telephone conversation with Ukrainian President Petro Poroshenko on November 5, said the United States was ready to help Ukraine, but Kyiv must first enact economic reforms

The U.S. financing and a $1.7 billion loan disbursement from the International Monetary Fund have been held up by squabbling between the Ukrainian parliament and Finance Ministry over proposed tax cuts.

Ukrainian Prime Minister Arseny Yatseniuk warned on November 4 that the near-deadlock over the level of planned tax cuts threatened to derail the government's 2016 budget and Western financing that is linked to it.

Lawmakers want steep cuts that the Finance Ministry says are not sustainable.

"We now have many allies in the West and these allies will stand with us so long as we show political will, responsibility and the unchanging nature of our goals and values as we carry out reform," he said. "We must all speak in one language."

With reporting by Reuters
  • 16x9 Image

    RFE/RL

    RFE/RL journalists report the news in 27 languages in 23 countries where a free press is banned by the government or not fully established. We provide what many people cannot get locally: uncensored news, responsible discussion, and open debate.

RFE/RL has been declared an "undesirable organization" by the Russian government.

If you are in Russia or the Russia-controlled parts of Ukraine and hold a Russian passport or are a stateless person residing permanently in Russia or the Russia-controlled parts of Ukraine, please note that you could face fines or imprisonment for sharing, liking, commenting on, or saving our content, or for contacting us.

To find out more, click here.

XS
SM
MD
LG