US to offer Ukraine 1 BLN USD

CNC
Added On January 30, 2015

Washington has agreed to provide Kiev with 1 billion U.S. dollars of credit guarantees this year to help the country tide over the economic crisis.

Ukrainian Finance Minister Natalia Jaresko and visiting U.S. Treasury Secretary Jacob Lew signed a declaration of intent on Wednesday.
 
Lew said the U.S. government has agreed to provide Ukraine with 1 billion dollars in the first half of 2015 on condition of staying on the path of reforms.
 
He explained that the fund would assist Ukraine in solving social issues and enhancing protection of the most vulnerable social groups.
 
According to the secretary,  U.S. Treasury would ask Congress to provide another 1 billion dollars this year if Kiev meets its 17-billion-dollar loan program .
 
In 2014, the U.S. government offered Ukraine with 1 billion dollars in loan guarantees and 340 million dollars of financial aid.
 
Ukraine's foreign exchange reserves dropped to 7.53 billion dollars last year, the lowest level in 11 years. 
 
In 2015, the country needs to repay about 11 billion dollars of its outstanding external debt.
 
The country's budget deficit is expected to reach 3.7 percent of the GDP this year, while inflation is projected to be 13 percent.