WASHINGTON: The International Monetary Fund (IMF) approved a new tranche of aid to Ukraine and extended a US$5bil (RM20.9bil) loan programme by six months as the country pledged to progress in implementing reforms.

       The programme “aims to help the authorities address the effects of the Covid-19 shock, sustain the economic recovery, and move ahead on important structural reforms to reduce key vulnerabilities,” the Washington-based lender said in a statement on its website.

       Ukrainian authorities are able to draw the equivalent of about US$699mil (RM2.9bil) through the extension of the arrangement, according to the IMF. — Bloomberg