IMF To Disburse 1st Tranche Of Loan Program For Ukraine Before Dec 25 - Finance Ministry

Faizan Hashmi Published December 19, 2018 | 03:15 AM

MOSCOW (UrduPoint News / Sputnik - 19th December, 2018) The International Monetary Fund (IMF) will disburse the first tranche of its stand-by program for Ukraine before December 25, the time line for the next tranches will be defined in November and May after the fund's review of the country's success in fulfilling the terms of the agreement.

On Tuesday, the IMF Executive board approved a $3.9 billion stand-by program for Ukraine for 14 months, according to Ukrainian President Petro Poroshenko.

"The first tranche of $1.4 billion will be disbursed to Ukraine before December 25. Decisions on further tranches will be made in May and November 2019 after the review of Ukraine's success in fulfilling the terms of the memorandum," the ministry wrote on Facebook.