IMF approves $1 billion for UkraineStaff Writer | September 15, 2016
The IMF executive board agreed to provide Kiev with a $1-billion tranche, the fund said in a statement.
Help Ukraine heavily relies on foreign aid
Ukraine heavily relies on foreign aid to support its economy and to pay its debts amid an ongoing armed conflict with independence supporters in the country's southeast.
On March 11, 2015 the IMF approved a four-year program of financial aid to Ukraine, which stipulates a $17.5 billion loan over the next four years. The bailout package for Ukraine requires that Kiev implement a number of political reforms.
In June, Ukrainian Prime Minister Volodymyr Groysman said that the country expects to receive a total of $1.7 billion from the IMF in 2016.
Groysman welcomed the IMF decision on the allocation of more aid to Kiev, saying on Facebook that it signifies that trust in Ukraine is being restored. ■