IMF sees decision on $1.4 billion tranche to Ukraine within weeks

Reuters News
Posted: Jul 18, 2014 4:20 AM

KIEV (Reuters) - The International Monetary Fund expects to decide on a second tranche to Ukraine within weeks as part of its $17 billion bailout, the mission chief in the country said on Friday.

Nikolay Gueorguiev said the tranche could total $1.4 billion. The ex-Soviet republic received a first tranche of slightly more than $3 billion in May.

"The mission has reached an understanding with the Ukrainian authorities on the policies necessary for the completionof the first review under the stand-by agreement... We expect this process to be completed within few weeks" he said.

The IMF approved a $17 billion two-year aid program for Ukraine in April to help the former Soviet republic's economy recover after months of upheaval, unlocking further credits from other donors of about $15 billion.

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(Reporting by Natalia Zinets; writing by Vladimir Soldatkin, editing by Thomas Grove)