The Ukrainian economy may plunge to a "pre-default" level and experience problems similar to those facing Greece if Ukraine's cooperation with the International Monetary Fund (IMF) fails, Deputy Prime Minister Serhiy Tihipko has said.
"The IMF’s exit [from Ukraine] will immediately lower the country’s rates, and the cost of our foreign debt, which has significantly expanded over the past three years… will immediately increase," Tihipko, who is also serving as minister for social policies, said in an interview with Ukraine’s Inter TV channel.
"Moreover, I can tell you that after we take another one or two loans, we may find ourselves in a pre-default situation," he added. "Then, we will face a situation like the one in Greece."
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