Ukraine Sees $7 Billion IMF Funding This Year - Bloomberg:
"Ukraine will probably receive $7 billion in International Monetary Fund financing this year to support the state budget and central bank reserves, Finance Minister Oleksandr Shlapak said.
The east European nation is also seeking further funding from the Group of Seven countries, Shlapak said an interview in Washington yesterday. Of the group’s members, Canada has pledged $200 million and the U.S. has also responded, he said.
The government predicts Ukraine’s economy will shrink 3 percent in 2014, the third recession since 2008, while reserves are at a nine-year low. The country sealed a preliminary accord with the IMF last month for as much as $18 billion in loans during two years, with the agreement unlocking $27 billion in international financing. Ukraine needs about $30 billion through 2015 to “balance the situation,” Shlapak said."
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"Ukraine will probably receive $7 billion in International Monetary Fund financing this year to support the state budget and central bank reserves, Finance Minister Oleksandr Shlapak said.
The east European nation is also seeking further funding from the Group of Seven countries, Shlapak said an interview in Washington yesterday. Of the group’s members, Canada has pledged $200 million and the U.S. has also responded, he said.
The government predicts Ukraine’s economy will shrink 3 percent in 2014, the third recession since 2008, while reserves are at a nine-year low. The country sealed a preliminary accord with the IMF last month for as much as $18 billion in loans during two years, with the agreement unlocking $27 billion in international financing. Ukraine needs about $30 billion through 2015 to “balance the situation,” Shlapak said."
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