KYIV, Ukraine (AP) — The International Monetary Fund said Thursday it has reached an agreement with authorities in Ukraine to allocate $5 billion to help the country cope with the economic fallout of the coronavirus outbreak.
“This will ensure that Ukraine is well-poised to return to growth and resume broader reform efforts when the crisis ends. The arrangement is also expected to catalyze additional bilateral and multilateral financial support,” said Ivanna Vladkova Hollar, the IMF official at the helm of the negotiations with Ukraine.
She added that the agreement with Ukraine was reached on “staff level” and requires approval by the IMF executive board.
Earlier this year, Ukraine adopted laws lifting the ban on the sale of farmland and preventing former owners of nationalized or liquidated banks from regaining ownership or receiving state compensation. Both were listed by the IMF among conditions for providing aid to Ukraine last year.
Ukraine has so far reported over 20,000 confirmed cases of the new coronavirus and 573 deaths. The country has been on a nationwide lockdown since March 12, with officials starting to ease some of the restrictions in late April. As in other countries around the world, the limits on business and public life have hurt Ukraine’s economy significantly.
6 Stocks That Will Benefit From a Dovish Federal Reserve
The quaint correction that was labeled the “tech wreck” of 2018 seems like a distant memory to investors. What also seems like a distant memory is any thought of the Federal Reserve raising interest rates.
At the end of 2018, the Federal Reserve had raised its benchmark federal funds rate. With the trade dispute with China dragging on, there was increasing pressure on the Fed to lower interest rates. When interest rates are lower, stocks will generally rise as investors have no other option for growth.
In July 2019, the doves got their wish. But in a move that now seems to be a “what did they know move”, the Fed dropped rates again in October. The market soared to record highs in January and early February. Since mid-February however, the market has fallen dramatically, and the Fed juiced the market one more time by cutting rates down to levels not seen since the financial crisis.
None of us know for sure when the U.S. economy will be opened up. And while stocks are still a good investment, not every stock is a smart investment at this time. But some stocks perform well when interest rates are falling and that’s why we’ve prepared this presentation.
These six stocks stand to benefit from both low-interest rates and the unique economic conditions being brought on by the Covid-19 pandemic.
View the “6 Stocks That Will Benefit From a Dovish Federal Reserve”.
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