IMF approves $17 billion bailout for Ukraine amid big risks


  • World
  • Thursday, 01 May 2014

WASHINGTON (Reuters) - The International Monetary Fund's board signed off on a $17 billion (10.07 billion pounds) two-year aid program for Ukraine on Wednesday to help the former Soviet republic's economy recover after months of upheaval as it continues to face geopolitical uncertainty.

The IMF aid will allow the immediate disbursement of $3.2 billion to Kiev and unlock further credits from other donors of about $15 billion, intended to help Ukraine stabilize its economy in the middle of its worst civil turmoil since independence in 1991.

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