G-7 comments on Ukraine (05/04/97)

G-7 comments on Ukraine

In a five-page statement released on April 27 in Washington, the Group of Seven industrialized countries - the United States, France, Japan, Germany, United Kingdom, Italy and Canada - among other things, expressed concern about the failure to date of the Ukrainian government to implement its economic reform package. Following is an excerpt from that statement.

We are increasingly concerned that the Ukrainian government has been unable to implement its ambitious reform agenda developed in cooperation with the IMF [Interantional Monetary Fund] late last year, for which the international community generously pledged its support in December. Designed to boost investment and bring the shadow economy above ground, we consider these measures to be Ukraine's best chance to achieve positive, sustainable economic growth. We urge the government to engage fully and quickly to implement this package while this window of opportunity remains open and before further delays make the reform task more difficult.

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