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Ukraine and IMF agree on new loan worth $14-18 billion

March 27, 2014, 12:50 UTC+3
Head of IMF mission Nikolai Georgiev noted that the first tranche would be handed in April, but did not disclose its sum
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© ITAR-TASS/Alexei Pavlishak

KIEV, March 27. /ITAR-TASS/. International Monetary Fund (IMF) is ready to provide Ukraine with $14-18 billion within the common international financial aid program during the two following years. Head of IMF mission Nikolai Georgiev said this at a briefing on Thursday.

“We have reached an agreement on the economic reforms program in Ukraine, which will be covered by a Stand-By Arrangement program worth $14-18 billion within two years. The program will give way to financial aid. The volume of this unblocking is $27 billion within two years,” Georgiev said.

He added that the first tranche would be handed in April, but did not disclose its sum. Georgiev noted that the tranche would depend on Ukraine's compliance with the necessary requirements.

March 26, the IMF completed negotiations on providing financial aid to Ukraine.

The IMF mission headed by Nikolai Georgiev was operating in Kiev since March 4 on invitation from Ukraine’s leadership. The mission was prolongued twice: until March 21 and until March 25.

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