Yuriy Gorodnichenko: The IMF’s very tough love for Ukraine
International Monetary Fund Managing Director Christine Lagarde gives a press conference prior to a European Union summit at the EU Headquarters in Brussels on Feb. 12.
The International Monetary Fund last month threw what looks like a much-improved financial lifeline to Ukraine - and indeed, the new loan program is welcome help for a desperate need. But a check on the math of one prominent IMF realist suggests that the cost of the overall aid package could be a Ukrainian economic shrinkage this year of an extremely painful 10 percent - much more than the IMF predicts publicly.
