The amount of money allocated to Ukraine by the IMF- approx. $17.5 billion from 2015-2018- pales in comparison to the money other states such as Greece and Poland received. (From 2010-2014, Greece received $200,040 billion in loans and Poland received approx. $90 billion when it joined the EU.)
However, the amount of money Ukraine received is a significant sum, said Jerome Vacher, the IMF Resident Representative in Ukraine. If you look at the ratio of loan money to the country's GDP, Ukraine's IMF program is one of the largest ever, Vacher said.
The promised $17.5 billion is part of an IMF bailout package meant to help Ukraine from defaulting. Ukraine's foreign currency reserves are at $5 billion and the country's currency halved in value in the first two months of 2015.
Five billion dollars were already delivered to Ukraine and $5 billion more will be delivered after a series of reforms are carried out.
Vacher expressed concern the war in eastern Ukraine could derail the bailout process.
Hromadske International's Ian Bateson and Nataliya Gumenyuk spoke with Vacher on Sunday, March 15, 2015.