June 11, 2020 / 11:06 AM / a month ago

Ukraine cuts interest rate to historic low after sealing IMF deal

KIEV, June 11 (Reuters) - Ukraine’s central bank cut its main interest rate for the eighth time in a row on Thursday after President Volodymyr Zelenskiy’s government secured a $5 billion deal from the International Monetary Fund to tide the country over through recession.

The cut to 6% from 8% takes the rate down to its lowest level since Ukraine’s independence from the Soviet Union in 1991. (Reporting by Natalia Zinets; writing by Matthias Williams; editing by Jason Neely)

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