IMF Approves $17.5 Billion Loan to Ukraine
A week after lawmakers approved a raft of amendments to Ukraine’s 2015 budget that the IMF had demanded, the fund signed off on a $17.5 billion loan that will prevent the country 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.Wait, before you go…
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.Support Truthdig