#AceFinanceNews – IMF/KIEV:July.04: The International Monetary Fund and Kiev’s representatives have agreed on a set of measures to be taken by Ukraine in order to receive $1.7 billion in bailout money, according to the IMF press service.
The much-needed 2nd tranche of a promised $17.5 billion support package will be released when the IMF’s Ukrainian mission determines that the requirements of the agreement have been met, though the press release did not specify what those conditions might be.
The IMF’s management and board will also have to approve the final release of funds. Initially, the IMF predicated their support on Ukraine reaching a deal with its private creditors to restructure its debt to reduce its payments by $15 billion over four years.
This has not proven easy, however, and the IMF now says it may release funds to Kiev even if it defaults on its private creditors.