IMF Approves 156 Billion Ukraine Loan Part of 115 Billion in Global Support

WASHINGTON — The International Monetary Fund (IMF) said on Friday its executive board approved a four-year $15.6 billion loan program for Ukraine, part of a global $115 billion package to support the country’s economy as it battles Russia’s 13-month-old invasion. The decision clears the way for an immediate disbursement of about $2.7 billion to Kyiv, and requires Ukraine to carry out ambitious reforms, especially in the energy sector, the Fund said in a statement. The Extended Fund Facility (EFF) loan is the first major conventional financing program approved by the IMF for a country involved in a large-scale war. Ukraine’s…