Kiev (AFP) – As government troops face off against pro-Russian separatists, Ukraine is also manoeuvring on the financial front, scrambling to stave off disaster by renegotiating its foreign debts.Kiev’s pro-Western government owes billions of dollars to US and London-based investors, among others, as well as Russia, its rival in the current conflict that has pushed Ukraine’s recession-hit economy to the brink.The International Monetary Fund has stepped in with a $17.5 billion rescue loan. As part of that deal, Ukraine must save a further $15 billion over four years by restructuring its debts.”If the debt operation fails, Ukraine will lose a …read more
Source: Business Insider
