What’s $3 Billion Between Enemies? #Ukraine and #Russia Battle Over Debt Terminology - Real Time Economics - WSJ

What’s $3 Billion Between Enemies? Ukraine and Russia Battle Over Debt Terminology - Real Time Economics - WSJ:



"Of the many battles Ukraine and Russia are fighting, an argument about whether to call the $3 billion Kiev owes Moscow at the end of this year “official” or “private” debt may seem insignificant.



In fact, says Anders Åslund, a Russia expert and senior fellow at the Peterson Institute for International Economics, the verbal skirmish highlights a fundamental problem: Ukraine needs far more cash than Western countries have currently promised to keep the conflict-ridden economy afloat.



“It’s under-funded,” said Mr. Åslund. Even though the International Monetary Fund and other creditors just boosted their emergency bailout financing, Mr. Åslund said he expects Europe and the U.S. will have to contribute at least another $10 billion."



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