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IMF approves massive funding for Ukraine

Staff writer ▼ | September 2, 2014
The International Monetary Fund (IMF) announced a disbursement of $1.4 billion to Ukraine, but warned that the program remains highly challenging and continues to hinge on the development of the conflict.
Highly challenging situation   $1.4 billion goes to Ukraine
The new funding was approved after the IMF's Executive Board, its decision-making body, completed the first review of Ukraine's performance under an economic program. That brings the total disbursements to about $4.51 billion.

"Overall, economic policies have generally been implemented as agreed in the program, as the Ukrainian authorities have persisted in taking difficult measures despite the volatile political situation," the world lender said in a statement.

"However, the conflict in the eastern part of the country is taking its toll on the economy and society, and compensatory measures will be critical to achieve key program targets agreed for 2014 and beyond," noted the statement.

It stressed that the program "remains highly challenging and continues to hinge crucially on the assumption that the conflict will subside in the coming months."