Ukraine conflict taking heavy toll on economy says IMF - BBC News - 0 views
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Ukraine's economy is likely to shrink by a worse-than-expected 9% in 2015, an International Monetary Fund (IMF) mission to the country has concluded.
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The continuing conflict in the east of the country "took a heavier-than-expected toll on the economy in the first quarter of 2015", IMF mission chief Nikolay Gueorguiev said.Ukraine's inflation rate will hit 46% by the end of the year, he said.
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Cash-strapped Ukraine has agreed a $17.5bn (£11.5bn) bailout programme with the IMF, and is hoping that the latest $2.5bn tranche of credit will be made soon. But the IMF will only release the money if it is satisfied the government is serious about reforming its beleaguered economy, which has been crippled by high energy costs, endemic corruption, and the conflict with pro-Russia separatists in the east of the country.