WASHINGTON – A default by Ukraine on US$3 billion in debt to Russia this year could threaten the International Monetary Fund’s lifeline to the embattled country, an IMF spokesman said Thursday.The Ukrainian government has begun negotiations with creditors for $15 billion in debt relief, part of a $40 billion, four-year financial rescue envisioned by the IMF.The Fund has approved a $17.5 billion loan to Ukraine as part of the package in exchange for the government’s successful implementation of economic, budget and monetary reforms. It has disbursed an initial $5 billion payment.But, the IMF has warned, the breakdown of a fragile …read more
Source: AsiaOne
