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The Biden administration has denied Ukraine $1 billion in state guarantees. US is "exploring other ways"

Author
Diana Polunina

The new US administration is exploring ways to expand support for Ukraine, but does not provide guarantees for Eurobonds.

Megan Bouldin,Counselor for Economic Affairs at the US Embassy in Ukraine, spoke about this in an interview with Interfax-Ukraine. According to her, as a result of the post-Maidan reforms, Ukraine has been able to access global capital markets to meet its borrowing needs, and a successful reform program will improve the country's market condition and reduce borrowing costs.

Quote"The new administration is exploring many ways to expand support for Ukraine, but the United States has not provided this type of guarantee for several years," she said.

According to Mrs. Bouldin, Ukraine continues to have access to significant amounts of low-cost financing through its deals with the International Monetary Fund, the World Bank, and the European Union.

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Quote"To get this funding, Ukraine will need to continue the reforms that we discussed in relation to anti-corruption institutions, the judiciary, the energy sector, land reform, the budget, and the central bank" she concluded.

Context. Prior to that, Minister of Finance Serhii Marchenko said that the new White House administration, after the US elections, where Joe Biden had won, made it possible to raise the issue of the allocation by the US of new guarantees for Ukraine's Eurobonds in 2021 worth $1 billion. This, according to the Minister, will allow refinancing a similar Eurobonds issue of 2016.

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