IMF to give Ukraine $5 billion to cope with virus fallout

The International Monetary Fund has reached an agreement with Ukraine to allocate $5 billion to help the country cope with the economic fallout of the coronavirus outbreak

She added that the agreement with Ukraine was reached on “staff level” and requires approval by the IMF executive board.

Earlier this year, Ukraine adopted laws lifting the ban on the sale of farmland and preventing former owners of nationalized or liquidated banks from regaining ownership or receiving state compensation. Both were listed by the IMF among conditions for providing aid to Ukraine last year.

Ukraine has so far reported over 20,000 confirmed cases of the new coronavirus and 573 deaths. The country has been on a nationwide lockdown since March 12, with officials starting to ease some of the restrictions in late April. As in other countries around the world, the limits on business and public life have hurt Ukraine's economy significantly.