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IMF Agrees $14-18 Billion Bailout For Ukraine

The International Monetary Fund has agreed a $14-18 billion two-year bailout for Ukraine, a deal to help it recover from months of turmoil that will also unlock further credits making a total of $27 billion.The agreement, announced on Thursday, is intended to help the heavily-indebted ex-Soviet republic stabilize its economy after anti-government protests which resulted in the overthrow of President Viktor Yanukovich and a standoff with Moscow in which Russia annexed the Crimea region.But the program of reforms that accompanies the support and which the IMF says is necessary to get economy back on track and avoid a debt default may be painful for the population and the new government at a time of crisis and uncertainty."The mission has reached a staff-level agreement with the authorities of Ukraine on an economic reform program," the IMF said in a statement."The financial support from the broader international community that the program will unlock amounts to $27 billion over the next ...

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