IMF recommends that Ukraine receives the second part of its loan
An IMF commission will recommend that the fund approves the second installment of US$1.4 billion of a US$17 billion bailout to Ukraine.
Nikolay Gueorguiev, the mission chief for Ukraine, said in an e-mailed statement (WHEN?) to Bloomberg “all structural benchmarks for the first review have been met as well, although some of them with a delay, this is a notable achievement as the intensification of the conflict in the east means that the program has been implemented in an environment that is considerably more difficult than anticipated when it was launched.”
The IMF also stated that the success of the massive bailout was dependent on Ukraine adopting austerity measures, but also “crucially on the assumption that the conflict will begin to subside in the coming months.”
The Fund also congratulated the new pro-Western government on their commitment to austerity so far, that would aid them in receiving the second part of the loan.
Ukraine asked for aid from the organization after its economy is predicted to shrink an alarming 6.5 percent this year.
teleSUR/ as-YM