IMF deal a tentative step in the right direction for Ukraine

The financial markets’ luke warm endorsement of Ukraine’s new IMF deal is probably justified. While a new IMF programme is good news in theory, in practice its success will depend on whether or not it can act as a spur for much-needed, but deeply unpopular, reforms. The mixed start of the new government gives plenty of reason for caution and means that the chance of policy slippage remains high.

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