MOSCOW—The head of the International Monetary Fund warned Ukraine on Wednesday that the organization would be unable to keep supporting the country financially if it doesn’t step up its reform efforts.
Ukraine relies on funding from the IMF and international donors as it battles deep economic problems, in large part resulting from the conflict in the country’s east, which has meant the loss of much industrial capacity. The economy shrank by more than 10 percent last year.
“Without a substantial new effort to invigorate governance reforms and fight corruption, it is hard to see how the IMF-supported program can continue and be successful,” Christine Lagarde said in a statement. “Ukraine risks a return to the pattern of failed economic policies that has plagued its recent history.”
