IMF approves billion dollar loan for Ukraine

The International Monetary Fund has approved a one billion US dollar (€890m) loan disbursement for Ukraine, after a year's delay amid concerns over corruption and the slow pace of reform.

The money is part of a 17.5 billion US dollar (€15.5bn) IMF loan programme that is meant to boost the Ukrainian economy, which is slowly emerging from a recession, and strengthen the local currency.