Article source
Forbes
Article date
Wed, Apr 2, 2014
Russia wasn’t all bad for Ukraine. A 45% reduction in the price of natural gas and what was supposed to be an additional $15 billion in aid was a necessary “lifeline”, the International Monetary Fund’s Christine Lagarde said on Wednesday.
Speaking to PBS News Hour on April 2, IMF's Managing Director Lagarde said, “The economy of Ukraine was against the wall and heading for disaster. It’s an economy that needed reforms, that needed profound transformation of its fiscal policy, monetary policy and on its policy on energy to mention just the key ones. Without the lifeline it was getting from Russia a few months ago, Ukraine was heading nowhere.”
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