Ukraine needs to renew trust in authorities and banking sector, US ambassador says

The renewal of trust in the authorities, the banking sector, and an effective court system will assist in attracting foreign investment to Ukraine, U.S. Ambassador to Ukraine William Taylor has said.

He said this to students during a lecture at the National Academy of Prosecutors of Ukraine in Kyiv on Thursday, Interfax-Ukraine reported.

Asked what could attract foreign investors to Ukraine, Taylor answered that "the first thing Ukraine needs to do is to restore trust in the authorities, the National Bank of Ukraine, the banking sector, and the national currency."

According to Taylor, significant distrust in the banking system and the hryvnia has been observed, and that leads to the currency's devaluation.

Taylor said it was very important for investors to see in Ukraine a mechanism for the fair resolution of disputes, which requires an effective court system.