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$27-billion lifeline for Ukraine

Kiev, March 27 (Reuters): Ukraine won a $27-billion international financial lifeline today, rushed through in the wake of Russia’s annexation of Crimea, as Moscow’s economy minister spoke of the cost of military action in its former Soviet neighbour.

The IMF announced agreement on a $14-18 billion standby credit for Kiev in return for tough economic reforms that will unlock further aid from the EU, the US and other lenders over two years.

“The financial support from the broader international community that the programme will unlock amounts to $27 billion over the next two years,” an IMF statement said.

 
 
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