IMF approved $1 bn aid tranche for Ukraine

The  International Monetary Fund (IMF), after an year's delay, has approved a $1 billion aid tranche for Ukraine from its $17.2 billion bailout program.

The IMF will disburse an additional $1 billion (889.3 million euros) to Kyiv, the fund's first aid package for the country since the $17.5 billion program was held up in August 2015. The latest decision brings the total amount of aid disbursed to Ukraine by the IMF to $7.62 billion.
"The positive decision by the IMF is evidence that the world recognizes that reforms are happening in Ukraine, that real and positive changes are happening in Ukraine, and that the country is moving in the right direction," Poroshenko said in a statement.

"A sustainable recovery requires the completion of the structural transformation of the economy, so there is still much to do, especially in fighting corruption and improving governance", IMF Managing Director Lagarde said and also noted that the objective main for the recovery and the improvement of tax and customs administrations and the pension reform.

Yesterday, Finance Minister Anton Siluanov said that Russia, an IMF lender and member of its Board of Directors, would have voted against providing additional aid to Ukraine.