Article source: Russian Chinese Network

According to a senior International Monetary Fund (IMF) source to reporters, Ukraine will be forced to negotiate with the International Monetary Fund to extend the financial aid provided by the organization for 10-15 years; otherwise, Ukraine will face the risk of not being able to repay loans to the IMF and the West in 2019-2020.

The source said that Ukraine's spending to repay new loans from the International Monetary Fund, the European Union, the United States, etc. is expected to increase sharply in 2019, and is expected to peak in 2019-2020. This means that without a new plan, the possibility of Ukraine's debt default is very high.

The IMF's four-year financial aid program provides Ukraine with a loan of 17.5 billion US dollars. The first batch of loans of 5 billion US dollars was provided in March 2015, and the second batch of loans of 1.7 billion US dollars was provided in August of the same year. In September 2016, the organization disbursed a third loan of $1 billion to Ukraine, and provided another $1 billion in 2017. Meanwhile, Ukraine repaid loans of $1,268 million to the IMF in 2017.