SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Natural Resource Stocks
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: c.hinton10/26/2008 1:08:00 PM
   of 108695
 
Ukraine set for $16.5bn IMF loan

The Ukrainina currency has slumped in recent weeks
The International Monetary Fund (IMF) is to offer a $16.5bn (£10bn) loan to Ukraine to help it "maintain confidence and economic and financial stability."
The country has been badly shaken by the global credit crunch, with stock markets and the Ukrainian currency tumbling and banks needing propping up.
Internal political turmoil has also delayed economic development.
Last week the IMF said it was to give Iceland a £2.1bn loan as its banking system came close to collapse.
Hungary, Pakistan and Belarus are also in talks about accessing IMF funding.
"The authorities' program is intended to support Ukraine's return to economic and financial stability, by addressing financial sector liquidity and solvency problems, by smoothing the adjustment to large external shocks and by reducing inflation," said the IMF's managing director Dominique Strauss-Kahn.
"At the same time, it will guard against a deep output decline by insulating household and corporations to the extent possible."
The loan depends on Ukraine being able to balance its budget and make reforms to its banking sector.
Currency plunge
Easy credit and a property boom had seen Ukraine's capital Kiev expand rapidly.
But the global downturn has seen investors and those willing to offer loans withdraw.
Ukraine also relies heavily on steel, but prices have collapsed.
And its currency, the hryvnia, has fallen sharply in the past two weeks.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News