: Former Finance Minister gives some advice to new Ukraine Prime Minister

18:12 Apr. 15, 2016

Former Finance Minister gives some advice to new Ukraine Prime Minister

Ukraine's Minister of Finance Natalia Jaresko during the meeting with U.S. Secretary of the Treasury, 13. Nov., 2015 (Getty Images)

Ukraine would be able to restore trust and confidence of its international partners only if it fully implements the IMF program - Jaresko

Ukraine's ex-Finance Minister Natalie Jaresko has voiced some advice to newly appointed Prime Minister Volodymyr Groysman, Voice of America's Ukrainian Service reported.

Jaresko said that despite a modest economic growth in Ukraine, its population will be able to benefit from it only over time.

"Economic well-being significantly depends on the security situation in Ukraine's Donbas. Ukraine is committed to a peace process, but it requires full implementation of the Minsk agreements, particularly by the aggressor," ex-minister emphasized.

The global economic environment is also challenging, according to Jaresko, as evidenced in a report of the International Monetary Fund (IMF), raising concern over extremely low growth rates in developing economies.

Read also Ukraine's Datagroup may be bought by Horizon Capital co-founded by Jaresko

Jaresko also encouraged a continued focus on a restrictive fiscal policy and reduction of the budget deficit, and to be thoughtful about own resources.

Ex-minister  stressed that Ukraine's new Cabinet [of Ministers] has to be consistent in implementing the IMF program, particularly, to bring gas prices to a market level, which is critically important, according to Jaresko.

 She also added that populism risk was very high, being a source of concern. She stressed Ukraine would be able to restore trust and confidence only if it fully implemented the IMF program.

Reporting by UNIAN

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