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Ukraine strikes USD 16.5 bln loan agreement with IMF

Ukraine strikes USD 16.5 bln loan agreement with IMF

27 October 2008

The International Monetary Fund said yesterday that it reached an agreement with the Ukrainian government on a USD 16.5 bln loan to help shield the country’s from the global financial crisis. Approval by the IMF’s board is dependent on Ukraine’s parliament passing an emergency economic program. The IMF said the economic package was designed to help Ukraine meet its balance of payment needs, balance its budget and address financial sector liquidity and solvency problems. The standby facility is valid for 24 months and Ukraine does not necessarily have to draw it. For more details, see our flash note later today.

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