The IMF and Ukraine have reached an agreement in principle on a new $5 billion aid package to help Kiev battle the coronavirus crisis, the Washington-based lender said Thursday. The agreement on the 18-month aid program is subject to the approval of the IMF's management and executive board, which will look at the deal "in the coming weeks," it said. The International Monetary Fund's governing body generally follows the recommendations of its technical teams. The deal is based on what the Fund calls a "stand-by arrangement" -- the technical term for an instrument used by the IMF to help countries in need during an economic crisis. Generally, the aid is predicated on the completion of certain reforms by the recipient nation. The official who led the IMF negotiating team, Ivanna Vladkova Hollar, said the deal would offer "budget support" to Kiev while "consolidating achievements to date, and moving forward on important structural reforms to reduce key vulnerabilities." "This will ensure that Ukraine is well-poised to return to growth and resume broader reform efforts when the crisis ends," she said, adding that it should also help convince other creditors to help Ukraine. vog/sst/bfm