IMF says its board to meet on Ukraine in late August

WASHINGTON, July 24 Thu Jul 24, 2014 10:32am EDT

WASHINGTON, July 24 (Reuters) - The board of the International Monetary Fund is expected to meet about Ukraine's loan program in late August, an IMF spokesman said on Thursday, which would likely allow the embattled country to receive its next aid disbursement of an expected $1.4 billion.

An IMF mission concluded its visit to Kiev last week to assess the country's progress with the conditions of the Fund's $17-billion bailout. IMF staff will then prepare a report for the Fund's board, which is likely to sign off on the review after its August recess.

Ukraine, which is fighting a pro-Russian separatist rebellion in the east, received $3.2 billion in May as the first tranche of the two-year IMF aid package intended to shore up depleted foreign currency reserves and support the state budget. (Reporting by Anna Yukhananov; Editing by Chizu Nomiyama)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

How to get out of debt

Financial adviser Eric Brotman offers strategies for cutting debt from student loans and elder care -- and how to avoid money woes in the first place.  Video