IMF approves billion-dollar loan for Ukraine
The International Monetary Fund has approved a one billion US dollar (£756 million) loan disbursement for Ukraine, after a year's delay amid concerns over corruption and the slow pace of reform.
The money is part of a 17.5 billion US dollar (£13 billion) IMF loan programme that is meant to boost the Ukrainian economy, which is slowly emerging from a recession, and strengthen the local currency.
The economy has suffered from a military conflict with Russia-backed separatists in eastern Ukraine that has claimed more than 9,500 lives.
The disbursement fell short of the 1.7 billion US dollars (£1.3 billion) that was promised earlier. Announcing the decision, IMF managing director Christine Lagarde said that a firm commitment to wide-ranging reforms is necessary.