IMF to give Kiev 2nd bailout loan possibly in July: Spokesman
The International Monetary Fund (IMF) will possibly provide Ukraine with as much as USD 1.7 billion in bailout funds in late July, a spokesman for the Washington-based institution says.
Gerry Rice said on Thursday that the IMF’s executive board is tentatively set to convene on July 31 to decide on the second disbursement of Ukraine’s four-year support package, which is part of a package of assistance aimed at pulling the war-torn country back from the verge of default.
The approval of the bailout loan is “possible provided our usual conditions are met,” Rice said.
In early June, the IMF said it will only release the funds if it is reassured that Kiev is serious about reforming its troubled economic situation, which has greatly deteriorated by high energy costs, prevalent corruption, and a continuing conflict with pro-Russia forces in the eastern part of the country.
Rice, however, warned that Ukraine should "avoid policy reversals" on reforms demanded by the IMF in return for the bailout funds.
On March 11, the IMF signed off on a USD 17.5-billion loan program for the cash-strapped country, which received USD 5 billion of the loan in the same month.
The new four-year IMF program “will provide more funding, more time, more flexibility, and better financing terms for Ukraine,” IMF Managing Director Christine Lagarde said.
The financial aid is part of a possible USD 40-billion package, which includes contributions from the United States and European Union.
Ukraine running out of missiles to fight Russia: Zelensky
Germany's Scholz seeks collaboration with China in 'just peace' in Ukraine
Thousands of lawyers march in Madrid to demand decent social security
The struggles of Occupied Palestine
Ayatollah Khamenei exalts great Persian poet on Saadi Day
Iran’s Civil Defense examines country’s preparation for potential threats
FBI chief: Chinese hackers targeting critical US infrastructure
New York Times leaked memo on Gaza coverage reveals obfuscation of facts
VIDEO | Press TV's news headlines
Barbados officially announces recognition of Palestine as state
US Senate reauthorizes surveillance bill despite privacy concerns
This makes it easy to access the Press TV website
