Ukraine Receives IMF Staff Support for $17 Billion Loan
Source: Bloomberg
International Monetary Fund staff endorsed a $17 billion loan to Ukraine to help the government pay its bills amid a projected economic contraction of 5 percent this year, according to government officials who have seen the recommendations.
The staff’s report was delivered to members of the IMF’s 24-seat board late yesterday, according to the officials, who spoke on condition of anonymity to discuss internal documents. The staff proposed an April 30 board meeting to consider the loan package, they said.
An IMF loan would clear the way for additional aid from the European Union, the U.S. and other donors. After weeks of talks with the government in Kiev, IMF staff concluded that Ukraine needs financing from the fund that’s at the higher end of the $14 billion to $18 billion range initially announced.
Read more: http://www.bloomberg.com/news/2014-04-23/imf-staff-said-to-back-17-billion-ukraine-loan-amid-contraction.html
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