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. Last Updated: 07/27/2016

IMF Grants Kiev Loan

KIEV () -- The International Monetary Fund announced Thursday it will grant Ukraine the next $100 million tranche of an $867 million standby loan, following the weeklong visit of a mission to ensure the country was meeting performance criteria.

Less than 24 hours earlier, the European Union announced an agreement to loan 200 million European currency units ($248 million) to put toward its balance of payments.

"Ukraine is certainly doing okay. The IMF is very, very strict. Ukraine has been paying its foreign debt and not spending more than it takes in," said a Western diplomat, who did not wish to be identified.

However, he cautioned that Ukraine's parliament, composed of powerful factions of communists, socialists and their allies, still must approve terms of the EU loan.