December 19, 2016 / 6:45 PM / 7 months ago

IMF's Lagarde pledges fund support for Ukraine after bank nationalized

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WASHINGTON (Reuters) - International Monetary Fund Managing Director Christine Lagarde said on Monday she phoned Ukrainian President Petro Poroshenko to commend him on the government's decision to nationalize Privatbank, calling it a "major step forward" in safeguarding financial stability.

"I also assured him that the IMF will continue to support Ukraine in its efforts to maintain macroeconomic stability and advance reforms to achieve strong and sustainable economic growth," Lagarde said in a statement.

Reporting by David Lawder; Editing by Dan Grebler

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