– ‘New IMF loan to Ukraine will go down the drain’ (RT, March 11, 2015):
President Poroshenko’s government is far more corrupt and less efficient than the previous one, according to Martin Sieff, columnist for the Baltimore Post-Examiner. It’s like a black hole, the more money you pour in the less you will have, he added.
– IMF approves $17.5bn bailout package for Ukraine (RT, March 11, 2015):
The International Monetary Fund (IMF) board of directors signed off on Ukraine’s new $17.5 billion package of financial aid Wednesday, IMF chief Christine Lagarde has announced.
Lagarde however did not provide details on how large an initial payment will be made to Ukraine or on what timetable.
“This new four-year extended arrangement will support immediate economic stabilization in Ukraine,” she said.
The first immediate payment from the IMF will consist of $5 billion, Ukrainian Prime Minister Arseny Yatsenyuk announced at a cabinet meeting on Wednesday, RBC Ukraine reported. He also said the newly approved financial help would allow Ukraine to receive $7.5 billion in other loans.