Ukraine wins IMF lifeline as Russia faces growth slump


  • World
  • Friday, 28 Mar 2014

Russian troops and vehicles are seen at a military base in Perevalnoye, near the Crimean city of Simferopol, March 27, 2014. REUTERS/Shamil Zhumatov

KIEV/MOSCOW (Reuters) - Ukraine won a $27-billion (16.2 billion pounds) international financial lifeline on Thursday, rushed through in the wake of Russia's annexation of Crimea, while Moscow's economy minister acknowledged that his country's growth would slow dramatically as funds flee abroad.

The International Monetary Fund announced a $14-18 billion standby credit for Kiev in return for tough economic reforms that will unlock further aid from the European Union, the United States and other lenders over two years, effectively pulling Kiev closer to Europe.

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