Washington – The International Monetary Fund (IMF) has released loan assistance to Ukraine in the amount of 17 billion dollars (12.3 billion euros) for two years. This was decided by the Executive Council of the Organization on Wednesday in Washington.
The money should help to restore the financial stability of the country and to set long-term economic growth in transition, said the IMF. Twelve billion dollars were provided as new credit help, five billion should be refinanced. $ 3.2 billion were placed immediately in view, including two billion domestic help, the report said. The IMF expects claims to be that after the release of additional financial support in the amount of approximately $ 15 billion from other international springs flow into the economically and financially troubled country.The IMF calls from Ukraine in return for the loan assistance far-reaching economic reforms. The transitional government had already announced mass layoffs and painful social cuts.
The European Union had already released in mid-April a billion euros of financial assistance to Ukraine . The EU foreign ministers also decided to delete almost all customs duties for goods from Ukraine. With the far-reaching waiver of import duties is anticipated a part of the planned association agreement. Among others, the EU sweeps 95 percent of tariffs on industrial products and 82 percent of tariffs on agricultural products. The EU grant of one billion euros to flow along with previously approved 610 million euros in the budget of Ukraine. However, this is the introduction of political and economic reforms. div
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Monetary Fund: IMF help Ukraine with $ 17 billion
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