IMF: No need to panic over Ukraine's economy

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Christine Lagarde123 Reuters. International Monetary Fund chief Christine Lagarde.

Washington - International Monetary Fund chief Christine Lagarde urged calm over Ukraine's economic situation Friday as the country was seeking billions of dollars in financial aid.

“We do not see anything that is critical, that is worthy of panic at the moment,” Lagarde said after talks on Ukraine with German Foreign Minister Frank-Walter Steinmeier.

Lagarde criticised the various numbers being mentioned for the size of the country's financing needs, a day after confirming that Kiev had asked the IMF for support.

On Monday Ukraine's new leaders said the country needs $35 billion to support the government's needs and avoid defaulting on its debt.

But Lagarde stressed the need to “rely on facts” and wait until the country's needs are “assessed properly”.

“It is highly premature to assess financial needs,” the IMF managing director said. - Sapa-AFP

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