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 Economic situation in Ukraine "increadibly encouraging", - IMF

Ukraine's government is determined to undertake long-needed reforms, making the economic picture in the country very encouraging.

The IMF Managing Director Christine Lagarde announced this on Wednesday, Censor.NET reports citing AFP.

Read more: Even if debts are frozen, IMF stands ready to assist Ukraine, Christine Lagarde says

"After a horrible track record with the global crisis lender over the past two decades, the current government is taking the necessary steps on fiscal reform and fighting corruption to turn the country around," Lagarde said. "Ukraine has been an incredibly encouraging situation," the IMF director commented in an online press conference.

Despite the ongoing security challenge with pro-Moscow rebels occupying large parts of the country's east, "we have seen political determination to change the face of Ukraine," she said.

Read more: Ukraine to get $1.7 billion aid installment from IMF

The encouraging words came amid doubts that the country can surmount all of its challenges including restructuring huge debts with private creditors.

 
 
 
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