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IMF Announces Further Delay In Ukraine Bailout

The International Monetary Fund (IMF) says that it has not yet decided to resume a bailout of Ukraine, which was halted over corruption concerns last year.

IMF spokesman William Murray said on July 28 that the IMF's executive board would not vote on a release of the next portion of Ukraine's $17.5 billion bailout package until at least mid-August, after the board returns from a two-week break.

The Washington-based organization earlier said that a review on unlocking the next loan tranche was nearing completion and it could be considered in July.

Since August 2015, Ukraine has received no new IMF disbursements from the bailout package approved in April last year.

Ukraine is currently awaiting the next $1.6 billion tranche from the bailout, intended to help stabilize the country, engulfed in a military conflict with Russia-backed separatists for more than two years.

Kyiv has been struggling to implement deep structural reforms, including rooting out endemic corruption, to meet conditions attached to IMF assistance.

The IMF has been frustrated by the slow passage of reforms in Ukraine. Kyiv has so far received $6.7 billion of the IMF's loan package.

Based on reporting by AFP and Reuters

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