While the IMF and EU have refused to work with Greece to solve the debt crisis, pushing Athens and the entire EU into the realm of the unknown…the IMF will gladly
lend, throw away money to fund Ukraine…a ready to default, neo-nazi governed, at civil war failed state.
IMF chief Christine Lagarde has reassured Ukraine that funds can still be made available even if the country fails to repay its private creditors. She ruled out resorting to national reserves to avoid defaulting.
Christine Lagarde, head of the Washington-based crisis lender, which had launched a four-year loan program of $17.5 billion (15.6 billion euros) in March for Ukraine’s government, said that the IMF was still encouraging a settlement in the debt talks, while highlighting that there were backup options in place.
“I believe that their program warrants the support of the international community, including the private sector, which is indispensable for the success of this program,” Lagarde said. She stressed that the IMF did not have to cut off its funding of the Ukraine government if it stopped servicing its private debts.
“But in the event that a negotiated settlement with private creditors is not reached and the country determines that it cannot service its debt, the fund can lend to Ukraine consistent with its lending-into-arrears policy.”
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.