Lagarde on Ukraine: "Urgent action was necessary"
- 10 years ago
ROUGH CUT (NO REPORTER NARRATION)
STORY: IMF Managing Director Christine Lagarde said, "urgent action was necessary" as International Monetary Fund approves $17 billion bailout for Ukraine.
The IMF's board signed off on a $17 billion two-year aid program for Ukraine on Wednesday to help the ex-Soviet republic's economy recover after months of turmoil.
The aid will unlock further credits from other donors of about $15 billion, intended to help Ukraine stabilize its economy amid its worst civil turmoil since independence in 1991.
The decision from the IMF's 24-member board, which includes representatives from Russia and the United States, clears the way for an immediate disbursement of $3.2 billion to Ukraine's cash-strapped government, allowing it to meet looming obligations and avoid a potential debt default. Of that first tranche, $2 billion will be targeted at supporting the budget.
Pro-Moscow separatists seized government offices in more Ukrainian tow
STORY: IMF Managing Director Christine Lagarde said, "urgent action was necessary" as International Monetary Fund approves $17 billion bailout for Ukraine.
The IMF's board signed off on a $17 billion two-year aid program for Ukraine on Wednesday to help the ex-Soviet republic's economy recover after months of turmoil.
The aid will unlock further credits from other donors of about $15 billion, intended to help Ukraine stabilize its economy amid its worst civil turmoil since independence in 1991.
The decision from the IMF's 24-member board, which includes representatives from Russia and the United States, clears the way for an immediate disbursement of $3.2 billion to Ukraine's cash-strapped government, allowing it to meet looming obligations and avoid a potential debt default. Of that first tranche, $2 billion will be targeted at supporting the budget.
Pro-Moscow separatists seized government offices in more Ukrainian tow