WASHINGTON (Sputnik) — The International Monetary Fund’s mission to Ukraine will visit the country in early November to discuss the next financial aid tranche with Kiev, IMF spokesperson Gerry Rice said in a briefing on Thursday.
"A mission will visit Kiev in early November. That will be to conduct the discussions under the third review, but also to conduct the 2016 article IV consultation," Rice told reporters.
In September, the IMF executive board approved a new $1-billion tranche to Ukraine. The amount of the aid package had been reduced from the originally planned $1.7 billion. The IMF has noted it could allocate a total of $2.3 billion to Ukraine by the end of 2016.
On March 11, 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 a number of installments over the next four years and originally open for reviewing on a quarterly basis.
Ukraine heavily relies on foreign aid to support its economy and to pay debts amid the ongoing armed conflict with independence supporters in the country's southeast.