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Ukraine implements complex reforms amid war - U.S. Secretary of the Treasury

Ukraine implements complex reforms amid war - U.S. Secretary of the Treasury Ukraine is implementing complex reforms in the conditions of war (photo: GettyImages)

The U.S. Secretary of the Treasury, Janet L. Yellen, spoke at a ministerial roundtable in Morocco, addressing the topic of assistance to Ukraine and providing an assessment of the progress in reforms, reports the U.S. Department of the Treasury.

The U.S. Secretary of the Treasury Janet L. Yellen stated that the United States, together with its allies, will support Ukraine as much as needed.

"Let me also be clear about our unwavering support. We have provided robust economic support to Ukraine, and the United States will support Ukraine alongside our allies for as long as it takes," said Janet L. Yellen.

The Minister highly praised the work of supporting the Ukrainian economy under challenging conditions, as well as the implementation of reforms, including efforts to combat corruption.

"But Ukraine has shown valiant resilience and its government has done remarkable work over the past year and a half supporting Ukraine’s economy and the Ukrainian people. Through it all, President Zelenskyy has maintained a clear focus on fighting corruption and strengthening accountability and good governance. Continuing to address these difficult issues will be key to delivering the future that Ukrainians deserve," the Minister added.

According to the American minister, Ukraine is fulfilling the requirements of the IMF program. Additionally, support from the fund is crucial for ensuring stability.

"Ukraine’s positive performance on its $15.6 billion IMF program to date has also been key for delivering macro stability and advancing reforms. Continued efforts under the program will be essential to recovery and reconstruction," stated L. Yellen.

In addition to economic assistance, the United States also aids budgetary sectors such as schools and hospitals.

"For our part, the United States has provided not only military support, but also significant economic support since Russia’s invasion. That includes support to help maintain critical public services like schools and hospitals.," stated Janet L. Yellen.

According to the minister, European allies have intensified their efforts and committed to allocate 50 billion euros over four years for economic assistance and the recovery of Ukraine.

"As an international community, we must continue to provide Ukraine the significant, predictable, and timely financial support it needs to keep the government running," the minister added.

The minister also touched upon the topic of American sanctions against Russia.

"And, in response to Russia’s war of choice, our historic sanctions coalition will continue restricting Russia’s access to the technology, equipment, and funds it needs to supply its military. That includes through our price cap on Russian oil and refined petroleum products, which has successfully targeted Russia’s key source of revenue while maintaining stability in global oil markets," the Finance Minister said.

"The American people are proud to stand resolutely with Ukraine," the minister added in her address.

Earlier, we reported that Ukrainian President Volodymyr Zelenskyy made his first appearance at Ramstein, where the U.S. allocated a $200 million aid package to Ukraine.

Ukraine will receive economic and military assistance from 11 countries as a result of Ramstein.