The IMF today agreed a $17.5 (€15.5) billion loan to Ukraine as part of an economic reform deal, designed to cut state spending, bureaucracy and corruption, and boost the Ukrainian economy in the medium term.
Ukraine was reportedly on the brink of bankruptcy, with the war against pro-Russian separatists costing around $8 million per day, according to the Kiev government.
Political analysts however say the deal comes with a “heavy political cost” for the Ukrainian government, as proposed reforms to the energy sector could lead to increased prices for consumers in Ukraine.
Dr David Cadier, a fellow in international strategy and …read more
Source: Newsweek