IMF says Ukraine's Bailout is at Risk
After the resignation of the Minister of Economic Development and Trade of Ukraine, Aivaras Abromavičius, the IMF has warned Kiev of a possible cessation of financial support. The Managing Director of the IMF, Christine Lagarde, stated on the 10th of February that it is difficult to imagine that the Fund could further support the country without significant efforts by the Ukrainian Government.
She also expressed concern about how slowly Ukraine is moving in the fight against corruption. The Ministry of Finance of Ukraine believes that the statement of the Managing Director of IMF is caused by the crisis in the Government.
As stated by the Deputy Minister of Finance of Ukraine, Artem Shevalev, Lagarde wants to clarify the future composition of the Cabinet of Ministers and the people responsible for the implementation of a memorandum of cooperation with the IMF.
Earlier, Aivaras Abromavičius resigned because the Government refused to accept his plan to modernize the economy of the country. In particular, the former head of the Ministry of Economy strongly advocated for the reorganization of the heavily dependent oligarchy on the national economic system. His bill on privatization was voted down several in the Verkhovna Rada of Ukraine.