Thursday, February 19, 2015

IMF, Kiev Agree on New $17.5Bln Rescue Plan for Ukraine – Lagarde / Sputnik International

Notes: Is it on? Is it off? This is only like the 20th report I've seen saying that the loan has been approved, followed by 20 reports saying that no, it has not been approved yet. So which is it?

The International Monetary Fund approved a $17.5 billion emergency rescue package to prevent a collapse of Ukraine's economy.

The International Monetary Fund and the Ukrainian government agreed on a $17.5 billion financial bailout package for Kiev, but the move is yet to be approved by the IMF Board.

“I’m glad that the talks on are now over. We have reached a preliminary agreement on disbursing $17.5 billion for Ukraine. It’s a four-year program,” the Fund’s managing Director Christine Lagarde said in Brussels on Thursday.

The program, which is a part of a $40-billion package for Ukraine, still has to be approved by the IMF board, IMF managing director Christine Lagarde said. If approved, it would be Ukraine’s fourth IMF bailout in 10 years.

Lagarde did not specify if Russian aid will be included the $40-billion program funded by several sources.

Complete story at - IMF, Kiev Agree on New $17.5Bln Rescue Plan for Ukraine – Lagarde / Sputnik International

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