The International Monetary Fund has approved a two-year $17.1 billion loan package for Ukraine. The immediate disbursement of $3.2 billion will allow Ukraine to avoid a potential debt default.The IMF’s 24-member board agreed to the two-year program to aid Ukraine’s troubled economy on Wednesday.The approval gives the green light for the immediate release of $3.2 billion to Ukraine, which will allow the nation not to fall into default, Reuters reports. More than half of that money will be dedicated to supporting the country’s budget.The package will open up loans from other donors totaling around $15 billion. The goal is for Ukraine to use the money to stabilize its economy.“The authorities’ economic program supported by the Fund aims to restore macroeconomic stability, strengthen economic governance and transparency, and launch sound and sustainable economic growth, while protecting the most vulnerable,” the IMF said in a statement.
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