The International Monetary Fund agreed to disburse US$1.4 billion to Ukraine under a loan programme whose success is threatened by the country's intensifying conflict against separatists tied to Russia.
The fund said the total amount of the loan remains unchanged at US$17 billion and the programme is progressing despite the volatile political situation. The money released yesterday will bring total disbursements under the arrangement to about US$4.51 billion, the fund said in an e-mailed statement after completing the first review of the deal.
"Downside risks to the programme remain very high," IMF managing director Christine Lagarde said. "The programme success hinges on a timely resolution of the conflict in the East, as well as on the authorities' strong policy performance and adherence to the planned reforms."
Bloomberg