July 24, 2014 / 2:35 PM / 3 years ago

IMF says its board to meet on Ukraine in late August

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)

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