Inner City Press -- Investigative Reporting From the United Nations to Wall Street to the Inner City

By Matthew Russell Lee

UNITED NATIONS, May 8 -- Is the International Monetary Fund, given its new program with Ukraine, concerned about the referendums still slated to go forward this Sunday, May 11?

IMF spokesperson Gerry Rice at the Fund's embargoed May 8 press briefing resisted using the word “concern,” saying that he wouldn't speculate. Asked if the more than $3 billion already disbursed might be used for military purposes, or to re-pay Russia, Rice said it was for budget support, to stabilize public finances and for budget deficit.

But many have said the IMF position that if Kyiv further loses control of the East the program would have to be revised creates an incentive to use force. Not surprisingly, Rice did not agree with this. But the incentives remain that way.

Rice was asked to state what the IMF's interest rate for Ukraine is, but didn't, saying it is a matter of public record.

Inner City Press submitted five questions two of which, on Bosnia and Ghana, were answered at the briefing and will be separately reported. Watch this site.