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.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Xinjiang art show captivates audience in Kuwait
Haiti transition council taps former PM Conille to again lead country
North Korea Kim Jong Un: N Korea will never give up space reconnaissance programme
Germany to keep military base in Niger open under temporary deal, Berlin says
Brasil's deforestation drops 11.6 pct in 2023
UK Conservatives pledge to create 100,000 more apprenticeships
Floods in southern Brazil leave students without classrooms for a month
600 looted artefacts worth 65 mln dollars returned to Italy from U.S.
Israeli study reveals correlation between fetal air pollution exposure, low birth weight
Venus has more volcanism than previously known, new analysis finds

Others Also Read