Timothy Ash writes from London: “Unfortunately Ukraine now is paying the price for the long delay in getting IMF lending back on track…

Timothy Ash writes from London: “Unfortunately Ukraine now is paying the price for the long delay in getting IMF lending back on track…it says the market is: a) untrusting of the commitment…to the IMF program; b) worried about the bunching of borrowing in the run up to elections; c) those elections themselves and the uncertain outcome…The plus factor from the above is that the message from the market is now loud and clear – we will only finance you if you stay on track with the IMF.”