IMF Approves $699 Million for Ukraine, Extends Loan Program
- Arrangement extended to June of next year, lender says
- Program will help Ukraine address effects of Covid-19 shocks
Pedestrians on Maidan Square in Kiev, Ukraine, on Nov. 20.
Photographer: Christopher Occhicone/BloombergThis article is for subscribers only.
The International Monetary Fund approved a new tranche of aid to Ukraine and extended a $5 billion loan program by six months as the country pledged to progress in implementing reforms.
The program “aims to help the authorities address the effects of the Covid-19 shock, sustain the economic recovery, and move ahead on important structural reforms to reduce key vulnerabilities,” the Washington-based lender said in a statement on its website Monday.