IMF approves R15bn tranche for Ukraine

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IMFLogo REUTERS The International Monetary Fund (IMF) logo.

Washington - The IMF's board on Friday signed off on a $1.4 billion (R15 billion) disbursement to Ukraine under its loan program, confirming Kiev was on track so far with the conditions of the bailout.

The International Monetary Fund in late April approved a $17 billion loan program for the former Soviet bloc country to shore up its depleted foreign currency reserves and support the state budget.

But it has also warned the program faces risks, as Ukraine continues to fight a pro-Russian separatist rebellion in the east. - Reuters

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