IMF to Ukraine: We'll Give You Money If You Give Us Austerity

The International Monetary Fund announced on Thursday a $14 to $18 billion “bailout” for Ukraine that is contingent on Kiev’s imposition of stringent austerity measures.

The package, which is slated for approval by the IMF’s board next month, will unlock credits of up to $27 billion from the United States, European Union, Japan, and other countries over the coming years if Ukraine imposes “economic reforms.”

According to Reuters, the IMF’s requirements include: “allowing the national currency, the hryvnia, to float more freely against the dollar, increasing the price of gas for the domestic consumer, overhauling finances in the energy sector and following a more stringent fiscal policy.”

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