$17.5b IMF Loan for Ukraine
World Economy

$17.5b IMF Loan for Ukraine

The International Monetary Fund (IMF) handed Ukraine a $17.5 billion lifeline Wednesday as the United States agreed to send military aid to bolster its forces against pro-Russian rebels – but stopped short of promising weapons.
The US also expanded the reach of its economic sanctions, targeting a Russian bank and separatist officials in eastern Ukraine – a move Moscow branded a “political provocation” that would only worsen the crisis, France24 reported.
After a call with US Vice President Joe Biden and a meeting in Kiev with US congressmen, Ukrainian President Petro Poroshenko thanked the US for the offer to send military equipment – but not weapons – worth $75 million.
Ukraine has asked western powers for weapons to help it fight the rebellion, but Washington remains cautious and key ally Germany remains flat-out opposed to supplying munitions.
White House spokesman Josh Earnest said President Barack Obama was concerned that sending more weapons to an already unstable region would lead to greater bloodshed.
“The president is mindful of the fact that there is not a military solution to this problem,” he said.
US officials said the package would include 230 Humvee vehicles, unarmed Raven drones, counter-mortar radars, night vision devices and various medical and communications gear.
Meanwhile, new US sanctions targeted officials in the separatist self-proclaimed Donetsk People’s Republic in Ukraine, as well as a Russian bank and a nationalist group.


Short URL : http://goo.gl/NF2i06

You can also read ...

Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
Myanmar Businesses Want Lower Taxes
Myanmar businesses are urging the government to lower the...