rt.com
AFP Photo / Yuri Gripas
Ukraine, a nation on the brink of civil war and bankruptcy, has received its first emergency rescue money from the International Monetary Fund (IMF), the National Bank of Ukraine reported.
The two-year program will shell out over $17bn in aid to Ukraine's troubled economy, and was approved by the IMF's 24-member board at the end of April.
National Bank Chairman Stepan Kubiv said that a portion of the first loan will be used to boost gold and currency reserves and help stabilize the fast-falling hryvnia. Foreign currency reserves have been wiped out as the Bank spends money to prop up the weak currency, and have reached a critically low level of under $12 billion.