Are you wondering why the IMF is standing by Ukraine against Ukraine’s creditors, while the IMF is refusing to extend even a smidgeon of an olive branch to Greece?
Creditors have loaned Ukraine $70 billion dollars. To receive payment of $40 billion from the IMF, the IMF required Ukraine to convince its creditors to agree with a restructuring plan that would enable Ukraine to raise $15.3 billion out of the $70 billion it owes its creditors.
A committee of bond creditors came up with such a plan for settling with Ukraine. In response Ukraine:
(1) Passed a law in May 2015 saying …read more
Source: The Huffington Post
