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Ukraine receives fourth tranche of IMF aid package

Xinhua, April 5, 2017 Adjust font size:

Ukraine has started receiving money from the fourth tranche of the International Monetary Fund's (IMF) aid package, the country's Finance Minister Oleksandr Danylyuk said on Wednesday.

"The process of transferring funds from the fourth IMF tranche has started," Danylyuk wrote on Facebook.

The financing of 1 billion U.S. dollars, which will be transferred to the account of the National Bank of Ukraine in the coming days, are designed to boost the country's foreign exchange reserves, support local currency and maintain stability on the financial market.

The IMF executive board completed the third review of Ukraine's economic program late Monday, enabling a release of the fourth portion of aid from its 17.5-billion-dollar bailout package.

By the end of the current year, Ukraine targets to receive three more tranches of the IMF aid, which are worth 4.5 billion dollars in total.

Under the cooperation program launched in 2015, the East European country has received more than 8 billion dollars from the global lender, which helped its economy to avoid collapse in the Ukraine crisis. Endit