IMF estimates bank recapitalization needs at 5% of GDP
3 June 2009
The International Monetary Fund estimates the volume of resources necessary to recapitalize Ukraine’s banks at over 5% of GDP, said Max Alier, the IMF’s permanent representative to Ukraine yesterday, according to Ukrainian News. Ukraine’s 2009 budget allocates UAH 44 bln for this purpose, or about 4.6% of GDP, based on our 2009 GDP estimate.
