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07 September 2015

IMF chief Christine Lagarde says Ukraine is on the tip of "turning the corner"


International Monetary Fund (IMF) Director Christine Lagarde has said that Ukraine's economic reforms are starting to yield results, and the country is on the cusp of "turning the corner".

Lagarde stressed she was "extremely encouraged" by the recent progress towards stabilizing Ukraine's economy, even against a backdrop of difficult circumstances. The heavily indebted country has suffered amid the turmoil that shifted its sitting government last year.
"The fiscal position is getting stronger, the foreign exchange market has stabilized, and the banking sector is being repaired so that banks are sounder and can start to provide credit again," she said.
"Significant reforms have been launched to bring energy prices to cost recovery levels, with due protection of vulnerable citizens. There has also been progress towards strengthening the social safety net and restoring the social contract in Ukraine."
 

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Mrs. Lagarde said that achievements of Ukraine within such a short period of time is just nothing but astonishing. Also mentioned about significant challenges which remain, therefore it is important for the country to stay on the course of reform.

Sources:
http://www.pravda.com.ua/news/2015/09/6/7080338/
http://www.cityam.com/223687/imf-chief-christine-lagarde-says-ukraine-showing-signs-turning-corner

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