NEWSWATCH: Ukraine Finance Minister Seeks More Bailout Financing; Natalie Jaresko says security, political risks could push up debt-restructuring needs
[“Ukraine Finance Minister Seeks More Bailout Financing; Natalie Jaresko says security, political risks could push up debt-restructuring needs” – Wall Street Journal – Ian Talley – March 16, 2015]
The Wall Street Journal covers Ukraine’s efforts to gain more financing to spur growth and development.
Ukraine needs more bailout financing than currently promised to help jump-start the embattled nation’s economy, Finance Minister Natalie Jaresko said Monday, just days after the International Monetary Fund approved an expanded rescue package.
‘The package that we have is going to stabilize the financial banking system, but it’s not enough to seriously restart growth and promote growth,’ Ms. Jaresko said in an interview after meetings with U.S. Treasury Secretary Jacob Lew. ‘I’m looking for more support.’
The IMF recently approved a $17.5 billion loan.
The IMF last week approved a $17.5 billion emergency loan as part of a larger $40 billion international financial package designed to keep the country afloat as Kiev’s pro-West government overhauls its creaking economy and contends with Russian-backed separatists in the east.
The ongoing bailout effort is said to carry risks and controversies, including forced budget-tightening. Meanwhile, the United States has avoided provided lethal military aid in Ukraine’s efforts against its Russia-backed insurgency.