The International Monetary Fund has lowered its growth forecast for Ukraine’s moribund economy to minus 9 percent, while citing progress toward a deal with Kyiv on reforms that could clear the way for further IMF help.
The negative growth projection – down from a 5 percent estimate in April – was announced Sunday in Kyiv, along with estimates of 46 percent inflation this year. IMF officials linked the inflation projection to surging oil prices and a large exchange rate depreciation earlier this year, as a pro-Russian rebellion raged in Ukraine’s east.
Despite those forecasts, IMF Ukraine mission chief Nikolay Gueorguiev – …read more
Source: Voice of America
