Kasyanov: Kiev will not be able to do without reforms, mitigating the burden of debt

The economic situation in Ukraine is very difficult, there are problems With the balance of payments, for this reason, at present the country can not do without special measures and reforms that mitigate the debt burden, said the ex-Minister of Finance of the Russian Federation Michael Kasyanov.

Ukraine's Parliament on Tuesday passed the government law that allows you to suspend payments on restructured their external debt obligations. This document will be valid until 1 July 2016, but he is not yet signed by the President.

"of course, Ukraine can not do without special measures to alleviate the debt burden. It is clear That the situation is extremely bad. In the past year, the decline was in the region of 15%, this is a very difficult situation, the problems With large balance of payments. That is why monetary Fund and first steps has made, and continues to make in support of the balance of payments and the possibility of Ukraine to pay debts ", - said Kasyanov Last news .

Typically when a country falls into such a difficult situation in the economy, we produced a set of measures, said the expert. On the one hand, it support packages from the international brotherhood, most importantly, international financial institutions, such As IMF and world Bank and, maybe it will take the participation of the European Bank and the European Union with its own funds, explained the former head of the Ministry of Finance. On the reverse side, produced by the reform program of the government of the country which was in a difficult position, he added.

As for the hryvnia, then, without doubt, some kind of stabilization of the national currency will be linked To the beginning of real reforms, says Kasyanov.

"Under these real reform will be issued stabilization loans from the monetary Fund, and lenders will observe That the balance of payments and supported the national currency is the pillow on which it rests, the viewpoint and the lack of inflationary mechanisms that from time to time there slipped, and From the perspective of What the outside world is also financially support Ukraine ", - said the expert.

After the default in Russia in the last month of summer 1998 Kasyanov was appointed Chairman of the working group for negotiations on restructuring the external debt of the Russian Federation. Kasyanov was the head of the Ministry of Finance From may 1999 to may 2000.


sections: Politics