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Wednesday, August 1, 2012

"Ukraine turns to Chinese cash''

From Asia Times

''China has preliminarily agreed to lend more than US$7 billion to Ukraine. In addition, an agreement has been signed between the two countries’ central banks on a currency swap worth $2.4 billion.

Although it is likely to take months of talks to agree on the details of the projects to be financed by China, this can be roughly compared in scale to the volume of loans that Ukraine received from international financial institutions in 2008-2010, which helped the country survive the global financial crisis.''

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