Ukraine is getting a massive IMF bailout to prop up its struggling public finances, announced early Thursday. Here’s the full text of IMF managing director Christine Lagarde’s statement, and here’s the crucial bit: I am pleased to announce that the IMF team working in Kiev has reached a staff-level agreement with the Ukrainian government on a new economic reform program that would be supported by an Extended Fund Facility of SDR 12.35 billion (about $17.5 billion, €15.5 billion) from the IMF, as well as by additional resources from the international community. I intend to recommend this program for consideration to …read more
Source: Business Insider
