Ian Talley and Alexander Kolyandr
March 3, 2014
Ukraine’s interim government said Monday it wants a $15 billion rescue from the International Monetary Fund as officials from the emergency lender kicked off a 10-day visit to shape a bailout of the struggling economy.
Ukraine’s newly appointed economy minister, Pavlo Sheremeta, said the government is aiming for a two-year IMF loan modeled on Ukraine’s previous bailout program. The interim government in Kiev, established after the ouster of the former pro-Russian President Viktor Yanukovych by protesters late last month, last week requested international financial assistance to help stabilize its struggling economy.
Many of the conditions the IMF has previously required for emergency financing for Ukraine will most likely remain. The IMF halted loan payments in 2011 after Kiev failed to meet key terms, which included phasing out gas-price subsidies and slashing government spending.