Obama applauds IMF Preliminary Agreement with Ukraine

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Ukraine received a lifeline from the International Monetary Fund (IMF), winning a 27 billion dollar support fund, in the wake of the Russian annexation of Crimea.  The IMF announced a 14 to 18 billion dollar standby credit for Kiev in return for tough economic reforms.  The United States Congress also passed legislation on Thursday backing a one billion dollar loan guarantee for Ukraine. US president Barack Obama lauded the announcement.