Author (Corporate) | European Commission: DG Communication |
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Series Title | Press Release |
Series Details | IP/14/281 (19.03.14) |
Publication Date | 19/03/2014 |
Content Type | News |
On 19 March 2014, the European Commission proposed new macro-financial assistance (MFA) to Ukraine of up to €1 billion in medium-term loans. The new MFA programme is part of the package of support to Ukraine announced by the European Commission on 5 March and endorsed by the European Council on 6 March. It is intended to assist Ukraine economically and financially in view of the critical challenges it is facing, notably a very weak and rapidly worsening balance-of-payments and fiscal situation, which is being worsened by the current crisis. The proposed EU MFA is designed to help Ukraine cover part of its urgent external financing needs in the context of the stabilisation and reform programme currently under preparation with the help of the International Monetary Fund (IMF). The proposed assistance is aimed at reducing the economy’s short-term balance of payments and fiscal vulnerabilities. |
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Source Link | Link to Main Source http://europa.eu/rapid/press-release_IP-14-281_en.htm |
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Countries / Regions | Europe, Ukraine |