Thursday, October 29, 2009

IMF vs the Ukrainian Parliament - part II

An politically cunning, but economically disappointing move of the president...

"KIEV, Oct. 28 – President Viktor Yushchenko indicated Wednesday he will sign a controversial bill that dramatically increases social spending less than three months before the next presidential election.

The move, seen as politically motivated, will most likely force the International Monetary Fund to postpone its $3.4 billion Standby loan installment to Ukraine, scheduled for this year, reducing chances for Prime Minister Yulia Tymoshenko to win the presidency."

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