Ukraine: Without Help from the IMF we will go Bankrupt
Disruption of cooperation with the International Monetary Fund threatens Ukraine with bankruptcy. This was stated in an interview with the "Ozzrevatel" magazine, Andrei Reva, Minister of Social Policy of the country, FOCUS reports.
"If we interrupt cooperation with the fund, they have told us:" We have no questions, then give us the money back. " And then we will either have to raise funds from the budget or declare bankruptcy, "the minister said.
Reva announced continued cooperation with the Fund. "The right way is to reform and recredit ourselves so that the economy does not feel the burden of external payments on itself," he said.
The four-year IMF program provides for the separation of Kiev to $ 17.5 billion dollars. In March 2015, Ukraine received the first tranche of $ 5 billion, and in August, and the second, worth $ 1.7 billion. In 2016 and 2017, the country received a single tranche of $ 1 billion each.
The country's president, Petro Poroshenko, announced on Friday that Kiev has fulfilled 80% of its obligations to the IMF and expects another money transfer by April this year.
Earlier, Deputy Director of the National Bank of Ukraine Dmitry Sologub said that Ukraine could end its co-operation with the IMF if it did not receive the next tranche by July.
- » Canonical Ukrainian Orthodox Church Says Not Taking Part in Autocephaly
- » Bulgaria is Launching a Two-year Rehabilitation Program for Wounded Ukrainian Fighters
- » Anti-Kremlin Journalist back from the Dead as Ukraine Admits set-up
- » Kiev: Three Ukrainian Soldiers Killed in Clashes with pro-Russian Rebels
- » Ukraine Crisis Needs 20,000-Strong U.N. Force
- » Lavrov: Ukraine is Trying to Provoke a Collision in the Donbass