IMF to change its lending rules for Ukraine – WSJ

‘The International Monetary Fund will go ahead with the promised $17.5 billion loan to Ukraine even if Kiev defaults on its $3 billion debt to Russia due in December, reports The Wall Street Journal.

Current IMF policy forbids it loaning to countries that default on other governments. In 2013, Russian President Vladimir Putin and then Ukrainian President Viktor Yanukovich agreed Moscow would buy $15 billion in Ukrainian Eurobonds. After the first $3 billion, Russia decided not to buy the remaining $12 billion following the Maidan events, which resulted in the overthrow of Yanukovich’s government.’

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