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Ukraine Chases Cuts in 'Unrealistic' Budget to Meet IMF Pact | Tony Seruga
Sep
11

Ukraine Chases Cuts in ‘Unrealistic’ Budget to Meet IMF Pact

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Oleksandr Danylyuk

Photographer: Joseph Sywenkyj/Bloomberg
  • Ukraine faces “huge fiscal risks,” minister Danylyuk says
  • Ukraine is seeking to secure two IMF aid tranches by year-end

Ukraine’s government needs to cut spending to steer the 2016 budget back to the goal agreed with international lenders, as delayed privatization and a weak economic recovery prevent revenue from keeping pace with costs, Finance Minister Oleksandr Danylyuk said.

The eastern European nation is seeking to restart the flow of funds from its bailout by securing two aid tranches from the International Monetary Fund, 600 million euros ($673 million) from the European Union and $1 billion in U.S. loan guarantees by the end of the year, he said…

Ukraine Chases Cuts in ‘Unrealistic’ Budget to Meet IMF Pact

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