Contents tagged with IMF

  • Ukraine repaid $450 million to the IMF

    Ukraine repaid the International Monetary Fund (IMF) $450 million borrowed under the Extended Fund Facility (EFF) program that commenced in 2014.

    "We paid today," a representative of the National Bank told Ukrainski Novyny news agency.

    Ukraine is supposed to repay a total of 16.836 billion UAH this year (approximately $650 million USD), as stated in the program approved by the Ministry of Finance for managing the national debt for 2017.

    In March 2015 the IMF opened a four-year EFF program …

  • IMF reminded Ukraine about pension reform and privatization necessity

    The International Monetary Fund indicated that in order to continue cooperation with Ukraine, it is necessary for Ukraine to adopt pension reform and accelerate privatization, as stated by a representative of the fund, William Murray, at a press briefing.

    "The fourth revision of the program by the directors’ board is possible after the required reforms are implemented. The main ones are pension reform, accelerating privatization, and specific results in the fight against corruption," he said. …

  • The IMF suspended negotiations with Belarus on credit allowance

    The International Monetary Fund (IMF) suspended negotiations with Belarus on the credit program in order to clarify the official policies in a number of sectors of the country, as announced on Thursday by the official representative of the organization, William Murray, at a press briefing.

    “Negotiations on the [credit] program have been suspended in anticipation of clarifying the Belarusian leadership’s policy regarding, in particular, state enterprises, housing, and communal services. Our …

  • IMF ready to postpone requirement for land reform in Ukraine

    Pension reform, privatization, and the fight against corruption are key requirements for the completion of the fourth review of the Extended Fund Facility (EFF) program with the International Monetary Fund (IMF), says William Murray, an official representative of the Fund.

    "Consideration by the Executive Board of the fourth review will be possible once the policies needed for this review are implemented. The focus of this review is on pension reform and on measures to speed up privatization …

  • Media: IMF ready to close eyes to land reform in Ukraine

    The International Monetary Fund (IMF) is ready to leave the adoption of pension reform as the main condition for the allocation of the next tranche of the loan to Ukraine. This means that the adoption of land reform will be excluded from the requirements, reported by Interfax-Ukraine, citing a source that is close to the negotiations.

    According to the news agency, the IMF made this decision in view of the fact that there is no agreement between the Fund and the Ukrainian government with regard …

  • Ukrainian PM: The IMF postponed its next loan tranche to Ukraine due to delays with land reform

    The next tranche of the loan from the International Monetary Fund for Ukraine will be postponed because parliament will not have time to consider all necessary reforms before the summer holidays, stated Prime Minister of Ukraine Volodymyr Groysman in an interview with Bloomberg.

    According to Groysman, the pension reform is on schedule and steps are being taken to create an anti-corruption court. However, a bill on land reform will not be submitted on time. This will delay the payment of the …

  • Media: Land market launch in Ukraine to be removed from IMF memorandum

    The point on the necessity of launching a land market will not be an obligatory condition for the allocation of the next tranche from the International Monetary Fund (IMF) to Ukraine, AgroPortal reported with reference to a source close to the negotiations in the US.

    “President Petro Poroshenko asked for the matter of launching a land market to be removed from the agenda, and Christine Lagarde agreed,” the source reported.

    According to the source, the point on the necessity of launching a …

  • IMF and World Bank approve pension reform plan in Ukraine

    A bill to reform Ukraine’s pension was approved by the IMF and the World Bank, as reported on the Ukrainian government’s website.

    The plan was developed by the Ministry of Social Policy of Ukraine in accordance with direction from Prime Minister Volodymyr Groysman. The Ukrainian government approved the bill in May.

    According to the bill, the retirement age will not be increased, but the minimum insurance period required for retirement will increase from 15 to 25 years. Also, special …

  • The IMF did not approve the pension reform of the Cabinet of Ministers of Ukraine

    The International Monetary Fund did not approve the pension reforms prepared by the Cabinet of Ministers, as reported by Ukrainski Novyny news outlet, citing a source in the government.

    It was reported that the Fund has categorically opposed the abolition of the taxation of pensions for working pensioners and did not support the idea of reindexing pensions on an ongoing basis. In addition, the IMF categorically opposed the Ukrainian government's plans to reduce the index used in estimating the …

  • IMF mission arrived in Ukraine

    The mission of the International Monetary Fund arrived in Ukraine and will work until May 25, reported a representative of the Ukrainian office of the IMF on May 16.

    Among the issues that the IMF mission intends to discuss are pension reform, changes in tax and customs policy, progress in VAT refund and budget implementation.

    The last time the IMF mission worked in Ukraine was in the first half of November 2016. On April 3, 2017. At that time Ukraine was given a tranche of $1 billion.

    On …