IMF to stand by $40bn Ukraine bailout - FT.com:
"The International Monetary Fund has warned Ukraine’s creditors that it is prepared to continue its $40bn bailout even if the conflict-torn country fails to reach an agreement on restructuring its $70bn sovereign debt.
In an open letter released on Friday and addressed to the “financial community”, Christine Lagarde, IMF managing director, warned that the fund was prepared to continue its own financing of Ukraine even if it stopped servicing its debts.
“The IMF, in general, encourages voluntary pre-emptive agreements in debt restructurings, but in the event that a negotiated settlement with private creditors is not reached and the country determines that it cannot service its debt, the fund can lend to Ukraine consistent with its Lending-into-Arrears Policy,” she wrote."
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