This week the IMF Executive Board will consider a proposal to provide Ukraine with a US$17.5 billion Extended Fund Facility. The IMF Managing Director explains that this program ‘can succeed’. But it has to be said that the chances are low, given current geopolitical circumstances and Kiev’s recent economic performance.
IMF Managing Director Christine Lagarde delivering a statement on a financial stand-by arrangement for Ukraine, 30 April 2014.
Why, then, is the Facility almost certain to be approved by the Executive Board?
The short answer is that no one has offered a viable alternative. Is the geopolitical clash for Europe’s borders going …read more
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