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IMF mission agrees new $17.5-bln EFF program for Ukraine – IMF head

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An International Monetary Fund (IMF) mission that was working in Ukraine from January 12 to February 11, 2015, has reached an agreement with the Ukrainian authorities on a four-year Extended Fund Facility worth SDR 12.35 billion (about $17.5 billion, or EUR 15.5 billion), IMF Managing Director Christine Lagarde said in Brussels on Thursday.

She said the IMF's Executive Board had not yet approved the package, and that so far, agreement had been reached only at expert level with Ukraine.

Lagarde said she hoped the agreement would be approved by the end of February.

She said a total four-year international bailout package of $40 billion had been agreed for Ukraine, contingent on the country conducting reforms. The program will be backed by EU member states and private investors, she said.

Source: Interfax-Ukraine

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