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IMF Board May Consider $1.7Bln Tranche for Ukraine in July

© AFP 2023 / MANDEL NGANThe seal of the International Monetary Fund is seen at the headquarters building in Washington, DC on July 5, 2015
The seal of the International Monetary Fund is seen at the headquarters building in Washington, DC on July 5, 2015 - Sputnik International
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The International Monetary Fund’s board will consider disbursing $1.7 billion in assistance to Ukraine upon successful conclusion of the second review tentatively scheduled for July, IMF Communications Department Director Gerry Rice said in a press briefing on Thursday.

WASHINGTON (Sputnik) —  On Wednesday, the IMF announced the board would consider the second review to disperse the next tranche of financial assistance to Ukraine in July if Kiev steps up reforms.

"So far as I know, it [IMF’s consideration] is for one tranche, not a bundling. I believe the number is around $1.7 billion," Rice stated.

​The Fund added that the IMF mission to Ukraine has worked out a staff-level agreement with Kiev on the reforms needed to complete the second review, including efforts to ensure fiscal and financial stability, enhance transparency, and reform the inefficient state-owned enterprise sector. 

​On March 11, the IMF approved a four-year program of financial aid to Ukraine, which stipulates a $17.5 billion loan over the next four years. The Ukrainian government has to implement new economic policies for the IMF to disburse the funds.

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