Economics
IMF Board Approves $5 Billion Ukraine Loan, Sends First Cash
- Pact first targeted for 2019 comes as coronavirus hits economy
- IMF deal also unlocks additional funding from World Bank, EU
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The International Monetary Fund’s executive board approved $5 billion of aid to Ukraine, the culmination of months of talks that grew more urgent as the coronavirus pandemic struck.
The Washington-based lender will disburse the first $2.1 billion loan tranche, according to an emailed statement Tuesday. Ukraine needs money to help cover its budget deficit, which tripled as the government ramped up economic support amid the Covid-19 pandemic.