IMF Board Approves US$1B Loan Disbursement for Ukraine

The International Monetary Fund said its board on Wednesday approved a long-awaited loan disbursement to Ukraine of about $1 billion after a review of the country's bailout program. 
The completion of this review enables the disbursement of SDR 716.11 million (about US$ 1 billion), which would bring total disbursements under the arrangement to SDR 5,444.21 million (about US$7.62 billion), according to IMF press release. 
In completing the review, the Executive Board approved waivers for the nonobservance of performance criteria related to net international reserves, non-accumulation of external payments arrears and non-introduction of new exchange restrictions. 
Ukraine’s four-year, SDR 12.348 billion arrangement (about US$17.5 billion at the time of approval of the arrangement) was approved on March 11, 2015 to support the government’s economic program, which aims to put the economy on the path to recovery, restore external sustainability, strengthen public finances, maintain financial stability, and support economic growth by advancing structural and governance reforms, while protecting the most vulnerable. 
The Executive Board also discussed the ex-post evaluation (EBE) of the Stand-By Arrangement (SBA) with Ukraine that was approved in April 2014.

Source : QNA