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IMF's Lagarde says Ukraine may need more aid

IMF Chief Christine Lagarde speaks during a meeting in Paris on July 18, 2014The head of the International Monetary Fund, Christine Lagarde, said Tuesday that Ukraine may need more international aid if its crisis with the pro-Russia separatist rebellion is prolonged. “As it stands and under current circumstances and the set of our assumptions, which includes a conflict that eventually is resolved in a not-too-distant future, no additional financing is needed,” Lagarde said at a news conference at IMF headquarters in Washington. In late April, the IMF approved a $17 billion line of credit to Ukraine, part of a $27 billion international financial lifeline to the country’s economy reeling from the rebellion blamed by the West on neighboring Russia, an accusation Moscow denies. The Ukraine crisis has escalated since the bailout began, with the pro-Russia separatists advancing their control of eastern Ukraine — the industrial engine of the economy — and the downing of a Malaysia Airlines passenger plane over the area in mid-July.

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