Ukraine clinches $15.6bn IMF loan

The IMF has struck a deal with Ukraine to provide a $15.6bn loan and a long-awaited financial lifeline to Kyiv as it tries to shore up its economy in the face of Russia’s full-blown invasion of the country.

The multilateral lender announced the agreement on Tuesday after a series of talks with Ukrainian authorities in Warsaw held this month. It still needs to be approved by the IMF board, which is expected to happen in the coming weeks.