The International Monetary Fund approved a $17.5 billion loan program for Ukraine, including an immediate $5 billion disbursement, to help the former Soviet republic stave off default amid a conflict with pro-Russia rebels. About $2.7 billion of the initial $5 billion payment will be allocated to budget support. The aid is part of what the Washington-based lender and Ukraine’s government hope will be a $40 billion package, including contributions from the U.S. and European Union and a prospective $15 billion in savings to be negotiated with Ukraine’s bondholders. Read more at http://www.bloomberg.com
