Ukraine, IMF reach $5.5 billion agreement

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KYIV, Ukraine (AP) — Ukraine and the International Monetary Fund have reached agreement on a new $5.5 billion program to boost the country’s growth and economic reforms.

The agreement, which still must be approved by the fund’s management, was reached in a Saturday telephone call between Ukrainian President Volodymyr Zelensky and IMF managing director Kristalina Georgieva.

Details of how the money would be used over the plan’s three years weren’t given.

Zelenskiy, who was elected in April on a platform focusing on economic reforms and fighting corruption, said in a statement that the program will accelerate growth.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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