IMF approves another tranche amounting to $1.7 bln to Ukraine

Ukrainian President Petro Poroshenko has said the International Monetary Fund (IMF) will provide Ukraine with another tranche of $1.7 billion.

"I can give you a report on this week: $1.7 billion as a result of the support of the reforms and the recognition that the president, the parliament, and the government are implementing reforms and these reforms are fully in line with the stated program, Ukraine has received $1.7 billion from the IMF. The decision was made this week," Poroshenko said in an interview with STB television on Saturday evening.

Poroshenko also recalled that $500 million has been provided to Ukraine by the World Bank and another $300 million has been provided from the government of Japan and there has also been macrofinancial assistance from the EU.

"And that's not it. What is it? It's a financial cushion for the reforms, it's an opportunity and position that we should impalement the reforms and at the same time ensure the stability of the national currency rate in a situation of falling exports," Poroshenko said.

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