Ukraine: "The package is very unpopular, complex, hard reforms that have long needed to be done" [View all]

[grahamhgreen]

Here comes austerity, privatization of public assets, and Monsanto:

LONDON — After three weeks of urgent negotiations with the interim government of Ukraine and in an atmosphere of great power competition, the International Monetary Fund announced on Thursday an agreement to provide up to $18 billion in loans over two years to prevent the country’s default.

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Posting later on Twitter, Mr. Yatsenyuk wrote: “The government will not allow the bankruptcy of Ukraine. The package is very unpopular, complex, hard reforms that have long needed to be done, submitted to Parliament.”Senior Western officials said on Wednesday that the loans from the United States and from the I.M.F. would be structured to get the government through its first few months without undue political upheaval, putting off some of the more difficult changes until after the May election.