Ukrainian crisis

$1.8 bln IMF Ukraine Bailout Funds Discovered in Kolomoyskyi's Cyprus Kitty

A huge chunk of the $17 billion in bailout money the IMF granted to Ukraine in April 2014 has been discovered in a bank account in Cyprus controlled by exiled Ukrainian oligarch Ihor Kolomoyskyi, the German newspaper Deutsche Wirtshafts Nachrichten [DWN] reported on Thursday.

In April last year $3.2 billion was immediately disbursed to Ukraine, and over the following five months, another $4.5 billion was disbursed to the Ukrainian Central Bank in order to stabilize the country's financial system.