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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

IMF Approves $15.6 Bln Ukraine Loan

The International Monetary Fund (IMF) logo in Washington, United States, September 4, 2018. REUTERS/Yuri Gripas

The International Monetary Fund said on Friday its executive board approved a four-year $15.6 billion loan program for Ukraine, part of a global $115 billion package to support the country's economy as it battles Russia's 13-month-old invasion.

The decision clears the way for an immediate disbursement of about $2.7 billion to Kyiv, and requires Ukraine to carry out ambitious reforms, especially in the energy sector, the Fund said in a statement.

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