Ukrainian president expects signing of memorandum with IMF after signing agreement on $1 bln loan guarantees with U.S
KYIV. June 3 (Interfax) - Ukrainian President Petro Poroshenko hailed the signing of the agreement with the U.S. on the provision of $1 billion loan guarantees and said he expected that a memorandum on cooperation with the International Monetary Fund (IMF) would be signed soon.
"That [the signing of the agreement] indicates that the U.S. is a reliable strategic partner for Ukraine," Poroshenko said after the document was signed.
He said that the signing of this document would be followed by the signing of a document on cooperation with the IMF and other financial organizations and that macro-financial assistance would be provided by the EU, which would promote Ukraine's economic growth, the president's press service said in a report.
"I am thankful to the U.S. for such timely and important assistance to our country. I am confident that we will restore our state with help from the global coalition in Ukraine's support," Poroshenko said.
"Our today's agreement is also a united front to counter the external aggression against Ukraine from Russia. They don't want, I want to say that they are even scared by our success," the president said.
U.S. Ambassador to Ukraine Geoffrey Pyatt, for his part, said that the signing of the agreement was an important step taken by the president and the new Ukraine towards stability and economic growth, an additional incentive for reforms and an indicator of the fulfillment of the U.S. obligations to the people of Ukraine.
Pyatt said that this agreement, like the previous loan guarantees, would promote the implementation of IMF reforms.
Ukraine and the United States on Friday signed an agreement on provision of loan guarantees for $1 billion that will help Ukraine to issue five-year Eurobonds and raise $1 billion on international capital markets at 2% per annum to the general fund of Ukraine's national budget.