IMF Reaches Deal With Ukraine On New $4 Bn, 14-month Loan

The International Monetary Fund announced Friday it had reached agreement with Ukraine on economic policies that would unlock a new loan deal that will provide nearly $4 billion.

Washington, (APP - UrduPoint / Pakistan Point News - 19th Oct, 2018 ) :The International Monetary Fund announced Friday it had reached agreement with Ukraine on economic policies that would unlock a new loan deal that will provide nearly $4 billion.

The new 14-month stand-by loan deal replaces an existing four-year financial aid package agreed in March 2015 and due to expire in five months, the IMF said in a statement.

The agreement must be approved by the IMF board, which will come later in the year after authorities in Kiev approve a 2019 budget "consistent with IMF staff recommendations and an increase in household gas and heating tariffs."