Arab Today, arab today imf could release new funds to ukraine at end of july
Last Updated : GMT 08:52:09
Arab Today, arab today
Arab Today, arab today

Country seeks private-sector debt relief

IMF could release new funds to Ukraine at end of July

Arab Today, arab today

Arab Today, arab today IMF could release new funds to Ukraine at end of July

Stalls at an outdoor market in Donetsk
Washington - Arab Today

The International Monetary Fund signaled Thursday it could release $1.7 billion in bailout funds next week to Ukraine as the country reels from civil war and seeks private-sector debt relief.

The IMF executive board is tentatively scheduled to meet on July 31 to decide on the second disbursement of the country's four-year support package, said Fund spokesman Gerry Rice.

Approval of the payout is "possible provided our usual conditions are met," Rice said at a regularly scheduled news conference.

In early July, the IMF said that the second disbursement would come after completion of certain, unspecified actions and in conditions that would allow IMF staff to assess whether Ukraine's public debt is sustainable "with high probability".

The IMF awarded Ukraine a four-year, $17.5 billion support program in March as its economy neared collapse after more than a year of civil war; an initial $5 billion was released.

The Washington-based institution, with 188 member nations, originally conditioned its aid program on the country achieving a deal with private creditors that would reduce its debt payment burden by $15.3 billion over the coming four years.

Kiev has sought a write-off of some of the debt but the Ad Hoc Committee of Ukraine's Bondholders -- mainly four US investment and hedge funds -- say that lengthening the payment period on the debt would be enough to achieve the goals.

"The authorities and the ad hoc creditors committee have been making good progress in their discussions," Rice said, although no formal agreement has been reached.

"Further progress is expected by July 31," Rice said.

The IMF spokesman meanwhile warned that Kiev should "avoid policy reversals" on reforms demanded by the IMF in exchange for the bailout.

Asked about the IMF's seeming easier bailout approach with Ukraine compared with its hard line on Greece, Rice noted that they were "two very different countries -- very different set of circumstances".

"The government there (Ukraine) has made a commitment, they've been implementing reforms, there's been a lot of progress there," he said.
Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf could release new funds to ukraine at end of july Arab Today, arab today imf could release new funds to ukraine at end of july

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf could release new funds to ukraine at end of july Arab Today, arab today imf could release new funds to ukraine at end of july

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday