LONDON, Aug. 21 - The country's finances have worsened, raising pressure on the International Monetary Fund, The Financial Times said in an article on August 20.

"While the international focus in recent months has been on the armed strife in eastern Ukraine and the geopolitical stand-off with Moscow, another dilemma is looming large for Kiev and its western backers: Ukraine's economy is in tatters," the article reads.

At best, the IMF and other Western sponsors are likely to have to step in with more loans to help the government staunch its fiscal deficit. At worst, the $17 billion IMF program signed in April could fall apart, possibly forcing the country to default and restructure its debts. "That would further deepen the economic turmoil in Ukraine and stain the reputation and credibility of the fund in the wake of its problematic Greek program," the article reads.