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Pavel Klimkin: assistance of promised $30 billion insufficient for Ukraine

October 18, 2014, 13:48 UTC+3 BERLIN
The Ukrainian foreign minister explained, enterprises in the Donetsk and Lugansk regions were not working, and consequences from a situation like this could not have been forecasted
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BERLIN, October 18. /TASS/. Ukraine requires bigger financial support than the $30 billion, which the West promised to Kiev in loans, Ukraine’s Foreign Minister Pavel Klimkin said in an interview with Germany’s Wirtshaftsvohe, published on Saturday.

“Our position is the reduction of GDP will make between seven and eight percent. I believe we shall require much bigger financing,” he said.

The Ukrainian foreign minister explained, enterprises in the Donetsk and Lugansk regions were not working, and consequences from a situation like this could not have been forecasted in spring, where the international support to Kiev was discussed.

In late April, the IMF adopted a two-year credit programme of $17.01 billion to finance Ukraine’s economy. The first tranche of $3.19 billion was transferred in early May. The total financing by IMF, the World Bank, other financial institutions and countries is expected to make $30 billion.

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