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Ukraine says expects IMF decision on new aid tranche on September 14

Published 08/09/2016, 08:52
Updated 08/09/2016, 09:00
© Reuters. Ukraine's President Poroshenko addresses lawmakers during the opening of a new Ukrainian parliament session in Kiev

KIEV (Reuters) - The International Monetary Fund will discuss giving another tranche of aid to Ukraine at its board meeting on September 14, Ukraine's President Petro Poroshenko said late on Wednesday, after speaking by phone with IMF chief Christine Lagarde.

The Fund earlier this month said it was "very close" to concluding its latest review of Ukraine's $17.5 billion (13.11 billion pounds)bailout.

Ukraine had originally envisaged receiving the latest tranche of aid in October, but said concerns over slower-than-expected progress on economic and political reforms demanded by the IMF had delayed the decision.

"According to the results of the talks with @Lagarde, the IMF officially included the question of granting Ukraine the next tranche into the agenda for September 14," Poroshenko said on Twitter.

Ukrainian officials have said the tranche will likely amount to around $1 billion, reduced from the previously expected sum of $1.7 billion.

© Reuters. Ukraine's President Poroshenko addresses lawmakers during the opening of a new Ukrainian parliament session in Kiev

The funds are part of a $17.5 billion bailout to prop up Ukraine's economy after fighting between government troops and separatist rebels erupted in 2014 in eastern Ukraine, the centre of much of its steel, chemicals and coal output.

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