Ukraine Parliament moves toward securing IMF loan

10/30/2008 |

As the ongoing global financial crisis continues to batter Ukraine, the country's Parliament moved beyond political infighting to tentatively approve legislation that secures a $16.5 billion loan from the International Monetary Fund. The IMF offered the loan on the condition that Ukraine tighten its budget. "We are giving a signal to the U.S. government and the IMF that the government, president and most of the Parliament intend to deal with the economy," said Ivan Kirilenko, a deputy in the Ukraine Parliament.

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