AKIPRESS.COM - The International Monetary Fund said on Thursday it had agreed a $14-18 billion bailout for Ukraine, a deal that will unlock further credits to reach a total of $27 billion over the next two years.

The agreement is intended to help Ukraine meet debt payments looming this year after months of anti-government protests which resulted in the overthrow of President Viktor Yanukovich and a standoff with Moscow in which Russia annexed the Crimea region.

"The mission has reached a staff-level agreement with the authorities of Ukraine on an economic reform program that can be supported by a two-year Stand-By Arrangement (SBA) with the IMF," the IMF said in a statement.

"The financial support from the broader international community that the program will unlock amounts to $27 billion over the next two years. Of this, assistance from the IMF will range between $14-18 billion, with the precise amount to be determined once all bilateral and multilateral support is accounted for."

The agreement is subject to approval by IMF Management and the Executive Board, which will consider it in April, Reuters said.