IMF offers Ukraine up to $18bn in loans

The International Monetary Fund on Thursday promised to loan between $14 billion and $18 billion to Ukraine's fledgling government, which is struggling to keep the country's economy afloat amid mounting debts, AP reported. Ukraine had faced three months of anti-government protest and its economy teetering on collapse. After two weeks of talks in Kiev, 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. It mentioned, however, that the "support from the broader international community" could be as high as $27 billion. The IMF loan hinges on structural reforms that Ukraine has pledged to undertake.