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. Last Updated: 07/27/2016

IMF Approves Latest Tranche For Ukraine

KIEV -- International Monetary Fund experts have backed the latest tranche of a standby credit to Ukraine but talks are continuing on a loan to support a new currency, the fund's resident representative said Friday.

"The performance criteria to the end of July were fully met and we are faxing our approval of the next tranche to Washington," Alex Sundakov said.

"We are still discussing the stabilization fund," he said at the conclusion of a two-week mission. The July tranche is for $100 million, part of a $867 million standby credit being paid out over this year and early 1997.

Sundakov would not say when he expected a decision to be made on Ukraine's request for $1.5 billion to back the permanent hryvna currency. Speculation has revived that Ukraine will shortly introduce the hryvna to replace the temporary karbovanets currency.