The IMF agreed to a four-year loan program worth about $17.5 billion in eight tranches over 2015 and 2016, subject to conditions which involved economic reforms. However, due to lack of progress on reforms, only two tranches worth $6.7 billion were paid in 2015. A third tranche of $1.7 billion was provisionally scheduled in June 2016 subject to the bringing into law of 19 further reform measures. Some western analysts believe that large foreign loans are not encouraging reform, but enabling the corrupt extraction of funds out of the country.