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G7 Finance Ministers Discussed Ukraine’s Financial Situation

© Fotolia / aviavladG7 Finance Ministers Discussed Ukraine’s Financial Situation
G7 Finance Ministers Discussed Ukraine’s Financial Situation - Sputnik International
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Finance Ministers and central bankers from the Group of Seven (G7) discussed Thursday the possibility of providing financial aid to Ukraine, Reuters reports, citing a G7 statement.

MOSCOW, April 11 (RIA Novosti) - Finance Ministers and central bankers from the Group of Seven (G7) discussed Thursday the possibility of providing financial aid to Ukraine, Reuters reports, citing a G7 statement.

"The discussions covered the major and recent developments in the global economy. […] This included a discussion of the situation in Ukraine, its financing needs and the international response," the statement said.

The meeting of top finance officials of the US, Canada, Japan, Italy, Britain, Germany and France took place ahead of the spring meetings of the International Monetary Fund and World Bank.

The International Monetary Fund announced in the end of March it had reached a tentative agreement to loan Ukraine up to $18 billion. The agreement is subject to further approval at a meeting of the Fund's leadership in April, which will depend upon the Ukrainian authorities' adoption of a package of actions aiming to stabilize the economy.

The Ukrainian economy has been hard hit by the ongoing political crisis following the unconstitutional seizure of power in February by the country's new leadership, which includes a number of far-right ultranationalists in key positions.

Crimea, a predominantly ethnic Russian region, rejected the legitimacy of the new government and moved to rejoin Russia after the government in Kiev introduced measures aimed against Russian-speakers in the country.

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