IMF approves $17.5 billion loan program for Ukraine

March 11th, 2015  
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Topic: IMF approves $17.5 billion loan program for Ukraine

The International Monetary Fund's board signed off on a $17.5 billion four-year aid program for Ukraine on Wednesday, the second attempt in less than a year to pull the country's economy back from the brink of bankruptcy. The program includes an immediate payment of $5 billion for general budget support to help stabilize Ukraine's listing economy. In a statement IMF Managing Director Christine Lagarde said the aim was to provide "immediate economic stabilization" to a country beset by conflict. "With continued firm implementation, there is reasonably strong prospect of success. The IMF loan is expected to unlock further credits from other donors.


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