Eastern Europe News

IMF Director Lagarde Says Ukraine Bailout Looks To Be Moving Forward

Ukraine’s main problem has been itself, not Russia. The corruption that is left over from decades of Soviet rule has proven hard to break, so much so that the International Monetary Fund, or IMF has withheld the next round of a $17 billion bailout meant to bring Ukraine into the European fold.

The head of the IFM, Christine Lagarde, seems to think in recent comments that Ukraine is making progress to get the next installment.

Speaking in Dubai, she said, “I am confident that the negotiations are heading in the right direction, that some of the key issues have been resolved. There are still a few outstanding matters that need to be ironed out and negotiated between the team and the Ukrainian authorities.”

Issues that have been contentious are reforming pensions, gas subsidies, bank reforms and breaking up oligarchic control of industry. Some of the Ukrainian tycoons are making money on both sides of the war. The hard work is ahead for Ukraine to become a successful state.

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