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Ukraine needs 40 bln USD in aid to spur economy: president

Xinhua, March 11, 2015 Adjust font size:

Ukrainian President Petro Poroshenko said Wednesday that his country needs at least 40 billion U.S. dollars of international aid to shore up its finance amid economic crisis.

"The overall financial aid package, which is formed to help Ukraine, to support our reforms, national currency, balance of payments and foreign exchange reserves, should exceed 40 billion dollars," Poroshenko said after a meeting with Swedish Prime Minister Stefan Lofven.

Poroshenko expressed his hope that the International Monetary Fund (IMF) would approve a new loan package for cash-strapped Ukraine, paving the way for broader international financial assistance.

The IMF's decision to grant Ukraine a new loan would lead to massive financial aid, Poroshenko said.

Later in the day, the IMF's executive board is expected to decide on the allocation of a four-year extended fund facility worth about 17.5 billion dollars for Kiev. Endi