Ukraine Gets IMF-Led $40 Billion Aid Accord to Avert Default
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Ukraine reached a preliminary accord to expand an International Monetary Fund-led bailout to $40 billion to avert default as the 10-month conflict in the nation’s east damages the economy and drains resources.
Managing Director Christine Lagarde said Thursday in Brussels she will recommend the four-year plan to the lender’s board for approval. The package contains contributions from other sources, including the European Union, she said. The board will consider the deal in several weeks after Ukraine revises its budget, Finance Minister Natalie Jaresko told reporters in Kiev.