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Ukraine's ex-premier Tymoshenko to run for president

News comes as IMF pledges $14-18 billion in aid

27 March, 14:56
Ukraine's ex-premier Tymoshenko to run for president (ANSA) - Kiev, March 27 - Former Ukrainian prime minister and opposition leader Yulia Tymoshenko announced Thursday she would be running in the May 25 presidential elections, set up following the ouster of President Viktor Yanukovych in a popular uprising in February. The news came as the International Monetary Fund (IMF) announced an aid package to the tune of $14-18 billion for the country over the next two years.

The exact amount would be determined once all bilateral and multilateral support - expected to total around $27 billion - had been accounted for, the IMF said.

Under the terms of the staff-level agreement, which must now be ratified by IMF management and the executive board, Kiev's fledgling government must implement a broad economic reform programme covering monetary and fiscal policy, financial sector reforms, the energy sector and governance. The goal of the program was to "restore macroeconomic stability and put the country on the path of sound governance and sustainable economic growth while protecting the vulnerable in society", the IMF said.