IMF’s Lagarde: ‘Very Close’ to Agreement on Ukraine Bailout

The International Monetary Fund is “very close” to an agreement to bail out Ukraine’s war-damaged economy, Managing Director Christine Lagarde said.

Lagarde, speaking to reporters in Brussels after Wednesday’s meeting of European finance ministers, didn’t elaborate and said she’ll give further details at a press conference at 9 a.m. Thursday in the Belgian capital. Ukraine’s Prime Minister Arseniy Yatsenyuk and U.S. Treasury officials have also indicated that agreement on an international bailout may be close.

The former Soviet republic of more than 40 million people is struggling to stabilize its economy after almost a year of conflict with pro-Russian separatists. Talks in Minsk between the leaders of Ukraine, Russia, Germany and France on a cease-fire to end the fighting extended into the early hours of Thursday.

Bloomberg