The International Monetary Fund today promised to loan between USD 14 billion and USD 18 billion to Ukraine's fledgling government, which is struggling to keep the country's economy afloat amid mounting debts.
Ukraine had faced three months of anti-government protest when President Viktor Yanukovych fled the country late February.
Its economy teetering on collapse, Ukraine was pushed closer to the edge with Russia's takeover of the Crimean Peninsula and Moscow's multi billion dollar bill for gas deliveries.
After two weeks of talks in Kiev, the IMF said in a statement today 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.
It mentioned, however, that the "support from the broader international community" could be as high as USD 27 billion. The IMF loan hinges on structural reforms that Ukraine has pledged to undertake.
Russia is raising natural gas prices for Ukraine, and the households in Ukraine should expect their gas bills to double in May, Ukrainian officials said.
