Ukraine’s Finance Minister Oleksandr Danilyuk on Saturday confirmed that an agreement on the next International Monetary Fund (IMF) disbursement of the fund’s $17.5-billion loan package was reached.
Earlier in the day, Ron van Rooden, the IMF Ukraine mission head, said an agreement on Ukraine’s reforms needed for the disbursement had been reached. The IMF board of directors has yet to make the final decision later in March.
“We reached a staff-level agreement with the IMF on the cooperation program review and on raising the issue of the next tranche with the IMF board of directors,” Danilyuk said on his Facebook page.
The agreement came after Ukraine fulfilled the IMF-backed reforms, he added.
In March 2015, the IMF approved a four-year program of financial aid to Ukraine, which stipulates a $17.5-billion loan to be paid out in installments over the program period and originally open for review on a quarterly basis. The bailout package requires Kiev to implement reforms.
Ukraine had expected to receive the fourth tranche of $1.3 billion in January or February.