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Ukraine expects IMF visit in May for loan program review

Xinhua, April 24, 2015 Adjust font size:

Ukrainian Prime Minister Arseny Yatsenyuk said Friday that a mission from the International Monetary Fund (IMF) is due to visit Kiev in late May to review its Extended Fund Facility (EFF) program, backed by a 17.5-billion-U.S.-dollar loan package.

"On May 29, the IMF mission will arrive in Kiev to review the program," Yatsenyuk told lawmakers.

The government expects that following the visit, the IMF will approve a second tranche of its loan for Ukraine, he said, urging the parliament to pass laws required for the disbursement.

Earlier this month, Ukraine's central bank said it expected a second tranche of 2.462 billion dollars from the IMF in mid-June.

In mid-March, the global lender provided Ukraine with a first slice of the credit worth 5 billion dollars to shore up the country's foreign currency reserves and support its budget.

The IMF executive board approved the four-year EFF program for Ukraine in early March to help the troubled country carry out reforms and boost economic development. Endi