IMF director about Russia and Ukraine

Christine Lagarde, International Monetary Fund director, discussed the Russian and Ukrainian economical statuses after approving a $17.1 billion bailout for Ukraine on Thursday.

‘If you look at the monetary policy, if you look at the capital flows, if you look at their own forecast, there have been consequences on the Russian economy as a result of the geopolitical situation, the uncertainty, and the sanctions that have been decided,’ said Lagarde about Russian economy.

She also predicted that, for 2014, the Russian economy is expected to grow by only 0.2% and that the country is presently in recession.

As for the bailout IMF granted Ukraine, Lagarde said that it is ‘obviously not without risk, but it's a necessity to respond to a member's request.’