Il International Monetary Fund has reached an understanding withUkraine for a new $17,5 billion funding program. This was announced yesterday by the director general of the IMF, Christine Lagarde: "I am happy to announce - she said from Brussels - that the IMF team working in Kiev has reached an agreement at staff level with the Ukrainian government on a new program Of economic reforms which will be supported by a new line of financing from about 17,5 billions of dollars".
Lagarde said the new program supports "bold reforms" by Kiev, which is under pressure from Western governments and creditors to settle its scores despite the ongoing war in the east. “It is an ambitious, tough programme, and it is not without risks – added the number one of the IMF -. But it is also a realistic program and its effective implementation, after consideration and approval by our Governing Council, can be a game changer for Ukraine”.
The new agreement, which has yet to be approved by the IMF's board of directors, comes after the Fund had already granted Ukraine 17 billion dollars in aid last April.
Ukrainian Prime Minister Arseny Yatsenyuk assured that his government will respect the conditions set by the organization: "Ukraine will adopt those reforms that are necessary to obtain the economic and financial stabilization of the country".
