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Ukraine signs IMF memo to unlock next loan tranche -central bank source
March 1, 2017 / 10:39 AM / in 9 months

Ukraine signs IMF memo to unlock next loan tranche -central bank source

KIEV, March 1 (Reuters) - Ukraine has signed a International Monetary Fund memorandum, paving the way for the disbursement of the next tranche of loans under its $17.5 billion bailout programme, a source in the central bank said on Wednesday.

“The Ukrainian side has signed the updated memorandum on cooperation,” the source said.

Disbursements have been delayed repeatedly over the past two years due to stop-start progress on reforms. The latest tranche of $1 billion was contingent on Ukraine passing an IMF-backed 2017 budget and implementing banking system reforms. (Reporting by Natalia Zinets; Writing by Alessandra Prentice; Editing by Louise Ireland)

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