Publication

This paper discusses the IMF's US$17 billion four-year lending arrangement for Ukraine that was approved in March 2015 and whether the IMF is equipped to handle the risks the arrangement involves. In general, the author contends that the immense risks created by the ongoing conflict in eastern Ukraine and the doubts over Kyiv’s ability to restructure private debt in the country exceed the IMF’s risk-baring capacity. She therefore suggests that other creditors should bare a greater share of the financial burden.