Ukraine Needs Reforms to Avoid a Worse Crisis

Although the ongoing conflict in Ukraine’s east has caught the world’s attention, no less important for Ukraine’s future are the transformative and unprecedented reforms being undertaken by the government in Kiev, as it seeks to arrest the country’s economic crisis and lay the foundation for long-term growth.

Last Friday, the Executive Board of the International Monetary Fund (IMF), with strong U.S. support, approved the next disbursement of financial assistance under Ukraine’s IMF program – marking almost a year and a half of sustained reform implementation.

There is no disputing that the government and people of Ukraine have faced the country’s extraordinary challenges with courage and commitment. Since the Maidan activists braved violence and sub-zero temperatures to promote democracy, transparency, and accountability, Ukrainians from all walks of life have been doing their part to achieve a decisive break with the country’s past and lay the groundwork for a stable, prosperous future.

via CNBC

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