Ukrainian President Petro Poroshenko, right, visits to the National University of Defense of Ukraine in Kiev, Ukraine, Friday, Feb. 27, 2015. Poroshenko congratulated the staff, students and graduates of the University on the early graduation of officers. (AP Photo/Presidential Press Service, Mykhailo Markiv, Pool)Mykhailo Markiv/The Associated Press
Sometimes it seems as if Ukraine is damned if it does and damned if it doesn't. Last week, reports suggested that the executive board of the International Monetary Fund might not approve its proposed four-year loan program to the Ukrainian government, if the civil war in the country gets worse. In other words, Ukraine seemed to be at risk of receiving less financial assistance than it needs, precisely because that help is so desperately required.
Ukraine needs stability. Like many of the best things in life, it isn't free. Financial aid from the international community will help, and it is at least as urgent as military assistance, if not more so. The country is in an exceptionally difficult position, with the economic chaos left behind by the deposed regime of Viktor Yanukovych, compounded by a state of Russian-backed civil war in the eastern part of the country.
Giving Ukraine military stability and control of its borders is not something NATO and the EU can guarantee, at least not yet. But the West has the resources to ensure that Ukraine is financially stable, that its economy and government continue to function. At this point, none of these are givens.
If the Ukrainians are deprived of the expected IMF money, the instability will naturally become worse for their own country, and for the region. If or when the conflict flares anew, it will be better if Kiev is in a position to pay its bills, including its own military costs.
The IMF's four-year plan is for an economic package of $40-billion (U.S.), of which the IMF itself is to contribute $17.5-billion. The contributions of other countries have not yet been allocated.
The IMF should send its funds as soon as possible. It is holding back because the Ukrainian parliament, the Verkhovna Rada, has not yet voted on a set of financial and economic measures that the IMF is requiring. The parliament is supposed to do so on Tuesday. Kiev's move would leave it up to the executive board of the IMF to approve the package next week. It should do so as soon as possible.
Last Thursday, Gerry Rice, the chief spokesperson for the IMF, made clear that, although it was of course worried by the conflict in Ukraine, the fund was not setting any conditions for the rescue package that would have to do with the military situation. The IMF should hold itself to that. So should Ukraine's Western allies.