IMF seeks 'immediate' stabilisation in latest Ukraine bailout

Ukraine's Finance Minister Natalia Yaresko and Prime Minister Arseny Yatseniuk address the media during a news briefing in Kiev March 11, 2015. REUTERS/Valentyn Ogirenko

WASHINGTON (Reuters) - The International Monetary Fund has agreed to pump $10 billion (6.70 billion pounds) into Ukraine's troubled economy over the next year, providing swift assistance for the country's struggling finances as part of a larger four-year bailout.

The IMF board on Wednesday approved a loan of $17.5 billion, with the bulk of the money heading out the door fast: $5 billion likely by the end of this week and another $5 billion in coming months, IMF officials said.