IMF says Ukraine on track with conditions of loan program

WASHINGTON Thu Aug 28, 2014 10:30am EDT

WASHINGTON Aug 28 (Reuters) - Ukrainian authorities have complied with all the conditions of their $17 billion International Monetary Fund loan so far, an IMF spokesman said on Thursday, suggesting the country was on track to receive its next disbursement under the program.

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 aid package from the IMF intended to shore up depleted foreign currency reserves and support the state budget.

"The authorities have committed to take a number of policy actions prior to the completion of the (program) review, which has since been implemented," IMF spokesman Gerry Rice told reporters.

The IMF board will meet on Friday to decide whether to approve the next disbursement to Kiev, likely to total $1.4 billion. (Reporting by Anna Yukhananov; Editing by Chizu Nomiyama)

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