From Prince to Pauper: Ukraine’s Government in Trouble Thanks to IMF

‘The need to carry out painful social reforms to receive credits from the International Monetary Fund has put the Ukrainian government in a very difficult situation, writes Austrian newspaper Der Standard.
The Ukrainian government is negotiating with the IMF on the third tranche of its promised $17.5 billion credit line, after being given $5 billion in March 2015 and another $1.7 billion in August 2015. However, additional funding has not been forthcoming due to the country’s political crisis and lack of progress in reforms. Now, Kiev is hoping to receive an additional $1.7 billion before the year is out, but is going to have to cut social programs even further to do so.’
Read more: From Prince to Pauper: Ukraine’s Government in Trouble Thanks to IMF