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IMF Approves $1 Billion Loan Tranche For Ukraine

The International Monetary Fund (IMF) has reached an agreement with the government of Ukraine, paving the way for an additional tranche of its loan program to be paid later this month.

Ron van Rooden, head of the IMF's Ukraine mission, said on March 4 that an agreement has been reached "on an updated memorandum of economic and financial policies."

The forthcoming $1 billion loan tranche depended on Ukraine adopting an IMF-endorsed 2017 budget and carrying out banking reforms.

The total IMF package to Ukraine is worth $17.5 billion, but payments have been repeatedly delayed over Kyiv's inconsistent progress on reforms.

Based on reporting by Reuters and AFP

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