June 11, 2020 / 11:24 AM / a month ago

Ukraine international reserves rise to more than $27 bln after IMF loan

KIEV, June 11 (Reuters) - Ukrainian central bank’s international reserves rose to more than $27 billion after the country received the first instalment of the International Monetary Fund loan, the bank’s head said on Thursday.

The IMF approved on Tuesday a $5 billion loan deal for Ukraine that Kiev says is needed to stave off default as the coronavirus pandemic plunges the Eastern European country’s economy into recession.

Kiev has already receive about $2.1 billion from the 18-month Stand-By Arrangement. (Reporting by Natalia Zinets, Writing by Pavel Polityuk; Editing by Alison Williams)

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