Financial Times FT.com

Ukraine closer to $16.5bn IMF loan

By Roman Olearchyk

Published: November 1 2008 02:00 | Last updated: November 1 2008 02:00

Ukraine's parliament last night adopted legislation intended to secure a $16.5bn (€12.6, £10bn) standby loan from the International Monetary Fund.

Ukrainian officials said the IMF loan and related "anti-crisis legislation" is key to preventing a financial meltdown, foremost by shoring up confidence in the country's shaky banking sector.

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