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Little Tich

(6,171 posts) Tue Dec 8, 2015, 10:46 PM Dec 2015

IMF rule change keeps Ukraine support; Russia complains

Source: Reuters

The International Monetary Fund will change its lending rules to allow it to keep supporting countries if they fail to repay official creditors, a move that would help Ukraine if it misses payments on a $3 billion debt to Russia.

Russia's finance minister immediately criticized the decision.

“The IMF's Executive Board met today and agreed to change the current policy on non-toleration of arrears to official creditors," chief spokesman Gerry Rice said in a statement.

Ukraine is restructuring its debts to plug a $15 billion funding gap under an IMF-led $40 billion bailout. Defaulting on the Eurobond, which matures on Dec. 20, could have put the program at risk.

Read more: http://www.reuters.com/article/us-ukraine-crisis-imf-idUSKBN0TR28Q20151208#LwDqAzPJ1Lf6FKBe.97

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IMF rule change keeps Ukraine support; Russia complains (Original Post) Little Tich Dec 2015 OP

This, of course, confirms what many have known all along: that the IMF is a slush fund. forest444 Dec 2015 #1

So we could let our thieving bank$ter/donors go under and not collapse. Handy to know. n/t jtuck004 Dec 2015 #2

forest444

(5,902 posts)

1. This, of course, confirms what many have known all along: that the IMF is a slush fund.

Reply to Little Tich (Original post)

Wed Dec 9, 2015, 12:37 AM

Dec 2015

Its rules to be waved aside whenever expedient - while pontificating the other countries of the world on the need to continue "sacrificing."

Of all the things that have damaged U.S. standing abroad, the IMF (the "International Misery Fund," as it is affectionately known around the world) is probably very close to the top of the list.

News of this kind of high-handedness only makes this impression worse.

jtuck004

(15,882 posts)

2. So we could let our thieving bank$ter/donors go under and not collapse. Handy to know. n/t

Reply to Little Tich (Original post)

Wed Dec 9, 2015, 12:45 AM

Dec 2015

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