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.
According to Murray, within the fourth revision of the cooperation program, it is also necessary to continue fiscal reform and reforms in the energy sector.
The representative of the IMF also stated that land reforms are important, but noted that to reach a consensus it must be postponed until the end of the year.
On March 11, 2015, the IMF approved a lending program for Ukraine as part of the extended fund facility (EFF), totaling $17.5 billion for a four year period.
The first tranche of $5 billion was received in March 2015, the second one of $1.7 billion was released in August 2015, the third in the amount of $1 billion was sent to Ukraine in September 2016, and the fourth tranche of $1 billion was received in April 2017.
Ukraine expects to receive another tranche from the IMF this year for $4.5 billion.