The International Monetary Fund has signed off on a $17.5bn (£11.8bn) four-year aid programme for Ukraine, the second attempt in less than a year to help the country avoid bankruptcy.
The programme includes an immediate payment of $5bn for general budget support to help stabilise Ukraine’s listing economy.
Christine Lagarde, the head of the IMF, said the aim was to provide immediate economic stabilisation for a country beset by conflict.
The programme was ambitious and involved risks, Lagarde said, “notably those stemming from the conflict” with pro-Russia separatists in eastern Ukraine. “With continued firm implementation, there is reasonably strong prospect of success.”
via The Guardian
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.