IMF Approves $17.5 Billion Loan Package For Ukraine

The International Monetary Fund's executive board on Wednesday approved a $17.5 billion four-year loan package for Ukraine, citing progress on an economic reform plan that will be supported with additional resources from other countries. "The program is ambitious and involves risks, notably those stemming from the conflict in the east of the country," IMF Managing Director Christine Lagarde said in a statement. Lagarde said that the Ukrainian government has taken steps toward talks with holders of its public sector debt with a view to improving "medium-term sustainability."