Ukraine needs to expand a $17 billion international bailout program that’s keeping its economy afloat after bonds fell to a record low, Economy Minister Aivaras Abromavicius said yesterday, adding it’s too early to say how much more aid Ukraine requires.
“To receive financial aid in order to survive in this difficult time, not to allow default, we need an international donor conference, the approval of Ukraine’s program, and to get support from our western partners,” Premier Arseniy Yatsenyuk told lawmakers in Kiev today.
The country may need to almost double its emergency loan “within weeks” to avoid bankruptcy, the Financial Times reported Dec. 9, citing unidentified officials. Representatives from the International Monetary Fund arrived in Kiev this week to discuss further payments under the existing program and a possible expansion.
International Support
“Part of the mission is assessing the financing needs of Ukraine and how those financing needs will be fulfilled,” IMF spokesman William Murray told reporters today in Washington. “It’s really important that the donor community step up and provide financing.”
Yatsenyuk referred to the Financial Times story today, telling lawmakers it was the newspaper, not he, saying the country may need the extra $15 billion in aid.
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