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Ukraine expects IMF decision on 2nd loan tranche in July: PM

Xinhua, June 12, 2015 Adjust font size:

Kiev expects the International Monetary Fund (IMF) to decide on the disbursement of a second loan tranche for Ukraine in July, Ukrainian Prime Minister Arseny Yatsenyuk said here Friday.

"We expect that the meeting of the IMF executive board over the tranche will take place next month," Yatsenyuk told a cabinet meeting.

Ukraine hopes to get a total of 1.7 billion dollars from the global lender as the second loan tranche, Yatsenyuk said, urging the government and the parliament to focus on implementation of the package of measures required for receiving the funds.

The prime minister stressed the need to reach a debt-restructuring agreement between Kiev and its foreign creditors and to approve a set of laws, required by the IMF, to obtain the aid.

The IMF executive board approved a four-year, 17.5-billion-dollar bailout program for Ukraine in early March to help the troubled country carry out reforms and boost its economic development.

In mid-March, the global lender provided Ukraine with the first tranche of the loan worth 5 billion dollars to shore up the country's foreign currency reserves and supplement its budget. Endi