IMF team in Kiev for bailout update

June 25, 2014 - 12:36:30 am

KIEV: An International Monetary Fund mission is in Kiev yesterday to check on Ukraine’s progress in implementing tough conditions for a $17bn bailout, the Fund said.

Ukraine facing an insurgency in its eastern region, received a first tranche of about $3.2bn in May under the two-year programme to shore up depleted foreign currency reserves and support the budget. Ukraine has met some of the strict requirements for the loan such as raising the price of gas in households and industry and allowing the exchange rate of hryvnia to float.  Reuters