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Ukraine's Russia debt threatens IMF rescue

A pro-Russian rebel looks at parts of a destroyed APC near the village of Lohvynove near the eastern Ukrainian town of Debaltseve on March 26, 2015A default by Ukraine on $3 billion in debt to Russia this year could threaten the International Monetary Fund’s lifeline to the embattled country, an IMF spokesman said. The Ukrainian government has begun negotiations with creditors for $15 billion in debt relief, part of a $40 billion, four-year financial rescue envisioned by the IMF. The Fund has approved a $17.5 billion loan to Ukraine as part of the package in exchange for the government’s successful implementation of economic, budget and monetary reforms. Kiev’s debt includes $3 billion lent by Russia in 2010 to the previous Moscow-backed government.

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