Contents tagged with IMF
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IMF rejects Poroshenko’s draft bill on Anti-Corruption Court
The International Monetary Fund believes that the bill to establish the Anti-Corruption Court (ACC), as submitted by President Petro Poroshenko, does not meet Ukraine’s obligation to the IMF, as stated in a letter from the head of the mission of the IMF in Ukraine, Ron van Roden, to the Presidential administration of Ukraine. The document, copies of which were sent to the Prime Minister, the Speaker of the parliament, and several ministers, was published by Yevropeyska Pravda.
In the letter, …
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Ukrainian President extended the moratorium on the sale of land
Ukrainian President Petro Poroshenko signed amendments to the Land Code that will prolong the moratorium on the sale or alienation of agricultural land for another year, reported the President’s press service.
"President Petro Poroshenko signed the Law on Amendments to Section X ‘Transitional Provisions’ of the Land Code of Ukraine, passed by the Verkhovna Rada on December 7, 2017. The document extends the validity of the moratorium on sale or alienation of agricultural land for one year," the …
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IMF not satisfied with pension reform in Ukraine
The International Monetary Fund (IMF) has been dissatisfied with the pension reform adopted by the Verkhovna Rada of Ukraine on October 3rd, Acting Chairperson of the National Bank of Ukraine Yakiv Smoliy said at a meeting with business representatives.
Smoliy said the IMF had five main grievances with Ukraine.
“Ukraine has certain responsibilities before the IMF that must be fulfilled. The pension reform was adopted but not in the proper way. A draft law on privatization so far has been …
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Over the year Ukraine paid more to IMF than it received from it
On December 1, Ukraine transferred its last due payment to the International Monetary Fund (IMF) in 2017 at $169 million, while overall it paid $1.268 billion this year, Ukrainski Novyny reports citing the press service of the National Bank of Ukraine (NBU).
According to the schedule of debt owed to the IMF, on December 1, Ukraine repaid 114.3 million Special Drawing Rights or SDRs that amount to $169 million. In total, in 2017 Ukraine paid 858.7 million SDRs worth $1.3 billion.
Meanwhile, …
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Ukrainian President: launch of land reform in the country postponed for another year
President Petro Poroshenko stated at a meeting with business representatives on Friday, December 1 that the launch of the land market will be postponed for at least a year.
"We have so far failed to break through the defense of populists, who vehemently oppose the free circulation of agricultural land but I wish to underline my fundamental political stance. I am in favor of the land market," said the President.
Poroshenko explained that it is still necessary to do related work, such as …
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IMF refuses loan to Belarus
The International Monetary Fund (IMF) has advised Belarus to abolish the so-called "tax on parasitism".
Based on the outcomes of the Fund's mission in Minsk, the IMF also proposed that the Belarusian authorities abolish the target for the monthly salary, which should be reached by the end of 2017. Instead, the IMF recommends for Belarus "to allow enterprises to adjust their salaries based on labor productivity."
The head of the IMF mission, Peter Dolman, also reported on the suspension of …
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IMF: Ukraine lost 2 percent of its GDP due to corruption
In a speech at the 8th Annual Ukrainian Investment Forum on Friday, the Resident Representative of the International Monetary Fund (IMF) in Ukraine, Gösta Ljungman, said that Ukraine's losses due to corruption amount to 2% of GDP.
"In Ukraine, there is no genuine fight against corruption. Corruption costs Ukraine 2% of its economic growth, so the fight against it is an issue of economic prosperity," Ljungman said.
He stated that the next important step in this direction should be the creation …
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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 …
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Ukrainian Finance Minister says that progress has been made in negotiations with IMF on gas tariffs in Ukraine
Finance Minister Oleksandr Danylyuk announced progress in negotiations with the International Monetary Fund on the price of gas. Ukraine has been attempting to postpone the increase of tariffs by changing the price formula, whereas the IMF demands that this issue be depoliticized.
"We have not reached a final agreement yet, but we have progress, established certain principles. Negotiations continue," Interfax-Ukraine quoted Danylyuk as saying at a briefing in Washington where he met with the …
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Ukrainian Finance Minister: Kyiv may receive next IMF tranche by end of year
Ukrainian Finance Minister Oleksandr Danylyuk believes that Kyiv may receive the next IMF credit tranche by the end of this year, Radio Liberty reports.
“We expect the tranche by the end of the year,” Danylyuk said on October 15 during a briefing in Washington at the conclusion of negotiations with the IMF leadership.
According to him, this will depend on agreements regarding the price of gas for the public. During the negotiations, Danylyuk explains, certain progress was achieved in this …