Thursday, 01 May 2014 - 13:06
IMF approves US$17b aid for Ukraine
The International Monetary Fund approved a 17 billion dollar aid deal for Ukraine, even as Kiev fights to prevent pro-Moscow separatists from hiving off another chunk of the country.
The IMF executive board's green light opens the way for an immediate deployment of 3.2 billion dollars to Kiev, which faces deep fiscal problems, compounding its political crisis.
Part of a 27 billion dollar bailout including the World Bank, European Union and others, the IMF said the rescue plan "aims to restore macroeconomic stability, strengthen economic governance and transparency, and launch sound and sustainable economic growth, while protecting the most vulnerable."