Accessibility links

Breaking News

IMF Approves $1 Billion Loan To Ukraine


Ukrainian President Petro Poroshenko
Ukrainian President Petro Poroshenko

The International Monetary Fund (IMF) has approved a $1 billion loan payment to Ukraine.

The IMF is supporting Ukraine with a $17.5 billion bailout program in exchange for Kyiv implementing reforms and tackling corruption.

Ukrainian President Petro Poroshenko wrote on his Facebook page on April 3 that the approval was "further recognition of Ukrainian reforms."

David Lipton, acting chair of the IMF's board, said Ukraine's economy was showing signs of improvement, with lower inflation and a doubling of international reserves.

But he said Kyiv still needed to tackle corruption "decisively."

The IMF had postponed the disbursement of the new loan following Kyiv's imposition of a trade embargo on areas controlled by Russia-backed separatists in the east of the country.

Ukraine received $1 billion from the IMF in October, its third tranche of money under the bailout program launched in March 2015.

Kyiv has received about $7.6 billion in total so far under the program.

Based on reporting by Reuters and AP

RFE/RL has been declared an "undesirable organization" by the Russian government.

If you are in Russia or the Russia-controlled parts of Ukraine and hold a Russian passport or are a stateless person residing permanently in Russia or the Russia-controlled parts of Ukraine, please note that you could face fines or imprisonment for sharing, liking, commenting on, or saving our content, or for contacting us.

To find out more, click here.

XS
SM
MD
LG