IMF Suspends Disbursement of Loan to Ukraine

The International Monetary Fund has suspended the disbursement of a USD3.8 billion loan to Ukraine,

reports. The suspension came after Ukraine President Viktor Yushchenko raised wages and pensions against the advice of IMF, the European Union and the country's own prime minister, Yulia Tymoshenko.

About the author

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.