KIEV (Sputnik) — Kiev expects the first tranche of the $17.5 billion assistance package from the International Monetary Fund (IMF) by March 15, Ukrainian Prime Minister Arseniy Yatsenyuk said Thursday.
"[We expect it] by March 15," Yatsenyuk told journalists.
The IMF board of directors endorsed on Wednesday a four-year financial aid program for Ukraine, with the first tranche expected to reach $5 billion, according to Ukraine's Finance Minister Natalie Jaresko.
Speaking on the assistance package, IMF chief Christine Lagarde said Wednesday the money will be used to stabilize the country's economy and support its immediate policy reforms. She also added the fund was giving loans to Ukraine despite IMF rules that do not allow countries at war to borrow money from it.
The conflict in Ukraine has had a direct impact on the country's economy as its currency has plummeted, foreign reserve dried up and growth slowed. International credit agencies have downgraded Ukraine's debt to junk status.
