Live news: US says no signs Putin-Xi summit would lead to peace in Ukraine

The IMF has struck a deal with Ukraine to provide a $15.6bn loan and a long-awaited financial lifeline from the multilateral lender for Kyiv to shore up its economy.

The agreement was announced by the IMF on Tuesday after a series of talks with Ukrainian authorities in Warsaw held this month. It still needs to be approved by the IMF board, which is expected to happen in the coming weeks.

The IMF said the programme would unfold in two stages, with the first 12-18 months devoted to build “fiscal, external, price and financial stability” and the second phase designed to “entrench macroeconomic stability, support recovery and early reconstruction”.