First Reform, Then Money

On December 7 during the Ukrainian-US space bridge, US Secretary of State special envoy and special aide for new independent states Stephen Sestanovich declared that Ukraine must demonstrate its ability to make reforms within half a year in order for it to have the confidence of international financial institutions, as well as to prove that if and when it receives further financial help such aid will be put to effective use. Mr. Sestanovich further said the issues will be presented to President Kuchma in the course of planned meetings with Vice President Al Gore and President Clinton, along with World Bank President James Wolfenson and IMF Executive Director Michel Camdessus.

Among other things, Mr. Sestanovich stressed that Ukraine must first close the Chornobyl Nuclear Power Complex and present a realistic energy sector reform program. America is prepared to cooperate with Ukraine also in other sectors, particularly in space exploration, subject to the condition that economic reforms get underway.