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IMF Approves $3.9 Billion Ukraine Loan as Debt Pinch Looms

  • Fund clears first $1.4 billion tranche from new package
  • Delays in implementing reforms had held up previous IMF cash
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Finance Minister Oksana Markarova talks about economic priorities after the IMF approved a new $3.9 billion program.(Source: Bloomberg)
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The International Monetary Fund approved a new $3.9 billion bailout program for Ukraine to stabilize the economy and help the government pay back its debts.

The board of the Washington-based lender agreed Tuesday to provide the eastern European country with the first $1.4 billion disbursement. It’s part of the 14-month stand-by program, which replaces a bailout that suffered long delays as the government failed to implement the reforms necessary to release the cash.