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. Last Updated: 07/27/2016

IMF Cuts Kiev Slack

KIEV () -- The International Monetary Fund has agreed to allow Ukraine a larger budget deficit in talks on disbursing a delayed credit, Prime Minister Yevhen Marchuk was quoted as saying Wednesday.

Interfax Ukraine said Marchuk told reporters the proposed deficit could be expanded between 6.2 and 6.4 percent from 6 percent. IMF officials said the two sides had moved closer to an agreement during talks in Kiev this week on the delayed fourth installment of a $1.5 billion standby loan.

In a separate announcement in Washington, the IMF said it had approved a $148 million loan to support economic reform in Armenia.