3/21, 10:35 PM (Source: TeleTrader)
more TeleTrader news

IMF, Ukraine agree $15.6 billion loan deal

The International Monetary Fund announced on Tuesday that it reached a four-year, $15.6 billion loan agreement with Ukraine.

According to the institution, the first phase is expected to be carried out in the first 12-18 months of the program and will aim to "strengthen fiscal, external, price and financial stability" of the country by "preparing a deeper assessment of the banking sector health and continuing to promote central bank independence," among other moves.

"The second phase would shift focus to more expansive reforms to entrench macroeconomic stability, support recovery and early reconstruction, and enhance resilience and higher long-term growth, including in the context of Ukraine's EU accession goals," the IMF revealed.

Baha Breaking News (BBN) / MS