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Added by on 2014-05-01

There have “clearly” been consequences for the Russian economy because of the crisis in Ukraine, Christine Lagarde, managing director of the International Monetary Fund, told CNN’s Christiane Amanpour on Thursday. The IMF said Wednesday that the Russian economy was in recession, and is expected to grow by only 0.2% in 2014. “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,” Lagarde told Amanpour. In a key sign of international support for Ukraine, the International Monetary Fund approved a $17.1 billion bailout for the country on Thursday. The bailout, Lagarde, said, is “obviously not without risk, but it’s a necessity to respond to a member’s request.”