IMF CANCELS LOAN TO UKRAINE.

Publication: Monitor Volume: 2 Issue: 69

April 9, 1996 07:00 AM Age: 28 years

The International Monetary Fund has canceled a $1.6 billion loan to Ukraine and sent an emergency mission to Kiev to begin negotiations over a new program, the Financial Times reports today. (Financial Times, April 9) The IMF was reacting to news that the Ukrainian government had overspent its budget in the first quarter. Fears were expressed that, unless a new loan is agreed quickly, Ukraine’s economic reform program may be set back.

Sofia Lodges Formal Protest.

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