IMF lists conditions for Ukraine to receive the next tranche

The International Monetary Fund (IMF) is making the next tranche allocation to Ukraine contingent on adoption of a law on privatization, the creation of an anti-corruption court, and an increase in gas prices, Ukrainski Novyny reports citing the IMF representative in Ukraine, Goesta Ljungman.

"The conditions for the fourth revision of the program are the adoption of a law on privatization that will ensure the transparent sale of state assets, as well as a requirement on pension reform, which has already been adopted. We are now assessing how well it corresponds to the pension system. It also requires the creation of an anti-corruption court and the regulation of issues related to gas; such a decision (No. 187) was adopted in February by the government," he said.

The Cabinet of Ministers of Ukraine refused to raise gas prices for the population, which should have happened on October 1, and sent a proposal to the fund to change the formula for calculating the price. Judging by Ljungman's statement, the IMF was not convinced to accept this request.

Ljungman also noted the need for land reform.

"We did not abandon this reform. We decided to postpone it until 2018, in order to give time for its comprehensive development and find consensus in society," he added.

The IMF representative noted that Ukraine had already fulfilled 2/3 of the program requirements, and has received 12.5 billion dollars.

Among the major reforms carried out, he noted the reform of the banking sector, the introduction of a floating rate, inflation indexation, the creation of the NABU (National Anti-Corruption Bureau of Ukraine), and the reform of the energy sector.

Earlier it was reported that the National Bank of Ukraine no longer expects to receive a tranche of the IMF this year.

  IMF, Ukraine

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