Trying to stem economic collapse, IMF offers Ukraine up to $18 billion in loans

KIEV, Ukraine – The International Monetary Fund says it will loan Ukraine’s fledgling government between $14 billion and $18 billion.

Ukraine had faced three months of anti-government protest when President Viktor Yanukovych fled the country late February. The new government is struggling to keep the country’s economy afloat. Russia’s takeover of the Crimean Peninsula exacerbated the issue.

After talks in Kyiv, the IMF said in a statement Thursday that the precise amount would be determined once Ukrainian authorities offered more precision on their needs and it was clear what other aid the country would receive.

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