Monday, December 14, 2009

Ukraine wants $2bn loan from IMF

http://news.bbc.co.uk/2/hi/business/8408741.stm

The "D" word was mentioned. Default...and another one bites the dust


Ukraine has made an urgent appeal to the International Monetary Fund for about $2bn in emergency loans.

It says it needs the money to meet external obligations and avoid the danger of a "spill-over effect" on other economically vulnerable states.

Ukraine says it desperately needs the money. It has hinted that if it does not get extra funds soon, the consequences could be serious.

At risk could be its ability to pay salaries, foreign debt and, crucially for its neighbours, its gas bill - notoriously supplied by Gazprom.