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IMF Approves $17.5 Billion Loan to Ukraine
A week after Ukrainian lawmakers approved a raft of amendments the IMF demanded to the country’s 2015 budget, the fund signed off on a $17.5 billion loan that will prevent Ukraine from going bankrupt. $5 billion will be released immediately.
The Guardian reports:
In a televised statement, Arseny Yatseniuk, UKraine’s prime minister, said the IMF move would let the country tap $7.5bn in other loans. Another $15.4bn is expected in debt relief, according to sources familiar with the IMF programme.
“[The money] will be used to stabilise the currency. It will enable the Ukrainian economy to grow from 2016,” Yatseniuk said.
… [IMF chief Christine] Lagarde said last week that an injection of financial support for Ukraine and its success largely hinged on the stability in the eastern of the country and how the security crisis was resolved.
Read more here.
—Posted by Alexander Reed Kelly.
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Source: http://www.truthdig.com/eartotheground/item/imf_approves_175_billion_loan_to_ukraine_20150312/
