IMF Reaches Deal with Ukraine, Paving Way for Next Loan

The International Monetary Fund said on Saturday it had reached an agreement with Ukraine on an updated memorandum under a US$17.5 billion program, paving the way for its board to consider the disbursement of the fourth loan tranche later in March.

"The IMF staff has reached agreement with the Ukrainian authorities on an updated memorandum of economic and financial policies," Ron van Rooden, the IMF's Ukraine mission chief, said in a statement.

Disbursements under the program have been delayed repeatedly over the past two years due to stop-start progress on reforms. The latest tranche of $1 billion was contingent on Ukraine passing an IMF-backed 2017 budget and implementing banking system reforms.