IMF staff reaches agreement with Ukraine for $15.6 billion program

FILE PHOTO: The International Monetary Fund (IMF) logo in Washington, United States, September 4, 2018. REUTERS/Yuri Gripas

WASHINGTON (Reuters) -The International Monetary Fund said on Tuesday it had reached a staff-level agreement with Ukraine for a four-year financing package worth about $15.6 billion, offering funds the country needs as it continues to defend against Russia's invasion.

The agreement, which must still be ratified by the IMF's board, takes into consideration Ukraine's path to accession to the European Union after the war. The fund said its executive board was expected to discuss approval in the coming weeks.