The International Monetary Fund (IMF) has agreed to extend $17.5bn in loans to Ukraine in an effort to pull back the country from the verge of economic collapse. Christine Lagarde, IMF managing director, said on Wednesday that the new four-year extended arrangement will support economic stabilisation and wide-ranging reforms in Ukraine. “The plan is to disperse about $10bn worth of financing during the first year,” she said. Natalie Jaresko, Ukraine’s finance minister, said earlier in the day that the government expected to receive $5bn from the IMF in the “coming days”. Credit is being extended on condition that the government …read more
Source: Egylovers
