IMF to Provide Ukraine with New Loan of $3 Billion

The International Monetary Fund (IMF) announced that the next tranche of the loan of 16.5 billion dollars to the Ukraine will amount to three billion dollars and will be discussed by the institution on June 15, writes Reuters.

“The next trance, which will be available after June 15 will be approximately of three billion dollars” said head of IM mission in Ukraine, Ceyla Pazarbasioglu. Meanwhile, the leadership of the IMF approved the release of the second tranche of 2.8 billion dollars, of the stand-by agreement for two years and took note of the new economic program of Ukrainian authorities, according to a communication of the institution.

“Ukraine’s economy was seriously affected by the slowing economy activities worldwide. The income decline and the pressure on the banking system required significant adjustments on policies”; said John Lipsky, first general deputy director of the IMF.

Fund supported agreements with several countries in Central and Eastern Europe, as result of economic crisis, namely Hungary, Romania, Latvia, Serbia and Ukraine.