The head of the International Monetary Fund
(IMF) gave high praise to Ukraine's economic performance while visiting
the country on Sunday, the Associated Press reported. The country has been struggling to overcome
massive contractions in its economy since the violence and political
upheaval that ousted its sitting government last year.
In
Kiev, IMF Managing Director Christine Lagarde reportedly told
Ukraine's President Petro Poroshenko that she was impressed with his
government's efforts, a good sign for those in the country hoping to qualify
for the third bloc of a four-year $17.5 billion loan. The incoming
money would total $1.7 billion, adding to the $6.7 billion the nation has
already received from the IMF this year.
The
AP reports that the IMF expects Ukraine's economy to contract by 9 percent
this year, a marked improvement from a "horrendous" 17.6 percent
contraction in the first quarter.
According
to Peroshenko, the conflict costs Kiev $8 million a day, the Guardian reported. The latest ceasefire agreement between the primary combatants,
Ukrainian government forces and pro-Russian separatists in the east, has
reportedly been upheld for more than a week.
No comments:
Post a Comment