IMF head Lagarde stresses Russia saved Ukrainian economy

Ukraine's economy can’t make necessary reforms without a lifeline from the IMF or others in the international community, said the Head of the IMF Christine Lagarde.

But to qualify for aid, the IMF is requiring Ukraine to conform to strict qualifications, as "IMF money doesn’t come free," points out Ms Lagarde. "IMF — the IMF lends financing to countries, provided that countries do for themselves what they need to do to restore the economy to be able to finance themselves without our support. So, we lend money, and the country takes a road to recovery, makes the hard choices, decides for itself what its economic future will be."

"Without the support that they were getting from this lifeline that Russia had extended a few months ago, they were heading nowhere," said Christine Lagard, the Voice of Russia reports.