KIEV (Reuters) - Ukraine has signed a memorandum with the International Monetary Fund that paves the way for the disbursement of the next tranche of loans under its $17.5 billion bailout program, a source in the central bank said on Wednesday.
Disbursements have been delayed repeatedly over the past two years due to stop-start progress on reforms. The latest tranche of $1 billion was contingent on Ukraine passing an IMF-backed 2017 budget and implementing banking system reforms.
"The Ukrainian side has signed the updated memorandum on cooperation," the source said.
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In emailed comments to media, central bank governor Valeriia Gontareva did not confirm that the memorandum had been signed by the bank.
(Reporting by Natalia Zinets; Writing by Alessandra Prentice; Editing by Gareth Jones)