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IMF outlines plans for multi-billion dollar aid package to Ukraine


Ukraine

IMF outlines plans for multi-billion dollar aid package to Ukraine

The International Monetary Fund has confirmed it will decide on an aid package for Ukraine when its board meets on April 30.

The country is on the brink of bankruptcy after months of political and economic turmoil.

“We’ve said before that the proposed standby arrangement would be in the range of 14 to 18 billion dollars over a two year period,” IMF spokesman Gerry Rice told a press conference on Thursday.

Ukraine would have to sign up to strict conditions including raising the price of its domestic gas.

Meanwhile, Kyiv is set to sign a deal with Slovakia on Monday to get 10 billion cubic metres (bcm) of gas a year. Ukraine had asked for up to 30 bcm but Slovakia refused saying that would break its contracts with Russian gas firm Gazprom.

Russia has nearly doubled the price it charges Ukraine for natural gas and threatened to cut supplies for non-payment of debt .

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