After the European Union’s decision not to suspend Ukraine’s debt, the US was “disappointed”

Secretary of the Treasury USA, Janet Yellenstated this Friday his “disappointment” with their European counterparts because the European Comission did not join the group of creditors who agreed to suspend payments on the debt of Ukraine for two years.

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“I would honestly say that I am disappointed that the European Commission has not joined the group of creditors to offer debt service relief to Ukraine”said the secretary of economy and finance of Joe Biden in Washington during the autumn meetings of the IMF and the World Bank.

“Ukraineas you know, is facing a huge funding gap and he needs our full support.” said Yelen finance ministers and EU commissioners.

A group of international creditors from Ukraineintegrated to Canada, France, Japan, United Kingdom, Germany and the United Statessigned a memorandum of understanding on September 14, which provides for a postponement of the payment of Ukraine’s debt following a request for Kyiv.

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“The commission is a multilateral organization and to make such a decision we must have the consensus of all member states”, reacted on Friday the commissioner for economic affairs of the European Commission, Paolo Gentiloniduring a conference after that of the American secretary.

“That is why we have a different way and a different handling of the subject”he added.

The IMF warned at these meetings that Ukraine is facing a budget deficit that could reach 4,000 million dollars per month in 2023.

Yellen received on Tuesday the Minister of Finance of Ukraine, Sergiy Marchenkoat the Treasury Department. “We will continue to support them”promised the US chief to his interlocutor.

Source: Elcomercio

Ronald Payne

I, Ronald Payne, am a journalist and author who dedicated his life to telling the stories that need to be said. I have over 7 years of experience as a reporter and editor, covering everything from politics to business to crime.