The International Monetary Fund agreed Wednesday to extend $17.5 billion in loans to Ukraine as part of a program designed to pull the country back from the verge of economic collapse.IMF managing director Christine Lagarde said in a statement that the new four-year extended arrangement will support economic stabilization and wide-ranging reforms in Ukraine.Ukraine’s Finance Minister Natalie Jaresko said earlier in the day that the government expected to receive $5 billion from the IMF in the “coming days.”Credit is being extended on condition that the government in Kiev implements deep structural reforms and slashes government spending.On Tuesday, Ukrainian President Petro …read more
Source: The Jakarta Post
