To bolster Ukraine economy, which has shaken enough due to global financial turmoil, The International Monetary Fund (IMF) has approved a $ 16.4bn loan.

IMF announced that $4.5bn would be immediately available as part of the two-year package.

Banking recapitalization, fiscal and incomes policy adjustments, and monetary and exchange rate policy shifts have been included in that plan.

The IMF has also agreed to provide loans to several nations to make them out of economic woes, as Iceland and Hungary have reached agreement with the IMF on loan deals.

…read the rest of this entry»

IMF has approved a $750m loan for Georgia for boosting confidence in its economy and rebuilding the currency reserves of the country.

Georgia’s economy is facing some economic worries following last month’s conflict with Russia.

According to some analysts, the loan would help Georgia to overcome the difficulties to attract foreign   investment and selling products abroad. The loan was approved after Nato chief Jaap de Hoop Scheffer visit to Tbilisi. …read the rest of this entry»

The International Monetary Fund (IMF) will provide $750 loan to Georgia in an effort to rebuild its economy after the recent war with Russia.

Georgia’s economy has gravely suffered after the recent war, key infrastructure including roads and ports have been destroyed by the Russian bombing during the war.

The US Secretary of State Condoleeza Rice has already announced a $1bn aid package in financial assistance to Georgia.

Georgia requests $2bn financial aid from the International community. …read the rest of this entry»