IIF: Ukraine needs more financial help
Ukraine's east risks raising finance needs
Washington - SPA
Ukraine will likely need to extend its IMF program to help the government pay its bills and also will require more support from other donors, especially the European Union, a global financial industry group said on Tuesday.
Despite a recent ceasefire with pro-Russian separatists in eastern Ukraine, Kiev will suffer a double-digit recession this year, given the destruction of factories and other infrastructure and an increase in banks' capital needs, the Institute of International Finance said.
According to Reuters, Lubomir Mitov, the IIF's chief economist for emerging Europe, said Kiev would also likely need to restructure its debt to lengthen the maturities on government bonds.
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Paris - Emiratesvoice
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Taipei - Emiratesvoice
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Paris - Emiratesvoice
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Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
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