IMF agrees on aid package for Ukraine

The International Monetary Fund (IMF) has announced it has struck a deal with Ukraine, giving the country access to badly needed loans. The agreement is contingent on Kyiv’s economic reforms in the years ahead.The IMF said Thursday it had agreed to an aid package for Ukraine worth between $14 18 billion (10.2 and 13 billion euros) as the country tried to come to terms with post-turmoil realities amid the ongoing Crimean crisis “The mission has reached a staff-level agreement with the authorities of Ukraine on an economic reform program that can be supported by a two-year stand-by arrangement with the IMF,” the lender said in a statement.It added the deal could potentially unlock further credits to reach a total of $27 billion over the next two years.