icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Kiev pledges reforms to secure extra $1.7bn loan from IMF

Kiev pledges reforms to secure extra $1.7bn loan from IMF
The International Monetary Fund and Kiev’s representatives have agreed on a set of measures to be taken by Ukraine to receive a $1.7 billion loan, according to the IMF press service.

The agreement, which was reached during consultations at the technical level, defines which measures need to be implemented in order to pass the fund’s first review of the financing program, TASS reports without specifying what those measures actually are. The agreement is now subject to the approval of IMF management and its Board of Directors.

READ MORE: Ukraine’s President Poroshenko signs €1.8bn loan from EU into law

After Kiev fulfills the required conditions, the IMF will be able to assess the sustainability of Ukraine’s public debt. After completing this review, the fund will transfer around $1.7 billion to Kiev, the press service said.

Ukrainian President Petro Poroshenko signed a law ratifying financial assistance from the EU of up to €1.8 billion on Thursday.

The country’s total debt is estimated at around $50 billion, of which $30 billion is external and $17 billion internal. Public sector debt has reached 71 percent of Ukraine’s GDP, and is expected to rise to 94 percent in 2015, according to estimates made by the National Bank of Ukraine in April.

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.

Podcasts