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    IMF Mission Set to Review Ukrainian Bailout Loan Program

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    Ukraine's economic recovery will be discussed during a meeting between representatives of the IMF technical mission and Kiev authorities.

    KIEV, November 7 (RIA Novosti) — A technical mission from the International Monetary Fund will arrive in Ukraine on November 11 to review the implementation of the $17-billion bailout loan program launched in April, the IMF said Friday.

    "The mission will discuss with Kiev authorities the current economic situation in the country, progress in the implementation of the bailout loan program, and the policy aimed at safeguarding macroeconomic and financial stability as well as economic recovery," the UNIAN news agency cited a statement by Jerome Vacher, the head of the IMF Resident Representative Office in Ukraine.

    Kiev received the first IMF loan tranche of $3.16 billion in early May after the IMF approved a $17-billion loan to Ukraine in the form of a two-year stabilization program. On September 4, Kiev received the second installment of about $1.39 billion.

    The IMF official also stressed that the talks on Kiev's bailout loan program would continue when Ukraine's new Cabinet is formed.

    Last week, the IMF claimed that the review might be submitted to the body's board only in early 2015 due to the ongoing talks on the formation of a new government.

    Following the October 26 parliamentary election, Ukrainian President Petro Poroshenko backed Prime Minister Arseniy Yatsenyuk to continue holding his office. However, the composition of a new government is still under consideration.

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    International Monetary Fund, financial support, Ukraine
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