IMF asks Ukraine to show results in the fight against corruption
The International Monetary Fund (IMF) has urged Kyiv to expedite the implementation of necessary reforms to stabilize the economic situation in the country. The IMF also expects Kyiv to show concrete results of their fight against corruption. This was stated in a report of the IMF mission, which was published on the 3rd of October.
According to the IMF, these reforms are still being met with opposition in Kyiv. The organization mainly requires a pension reform, and the creation of a special system by which to declare the incomes of officials.
The IMF has also insisted on the adoption of a law that gives more power to the National Anti-Corruption Bureau of Ukraine (NABU). Ukrainski Novyny reported that this includes authorizing wiretapping and allowing access to the computer systems of officials. NABU has to publish quarterly reports about the corruption of high-ranking officials on its website.
Kyiv will be ready to adopt this law before the end of 2016 and has promised to request that senior officials submit electronic declarations of their incomes and assets for 2015 before November.
The IMF’s four-year credit program for Ukraine was approved in March 2015 and allows for the allocation of $17.5 billion to the country. Ukraine has already received $1 billion and is expecting the fourth tranche of $1.33 billion dollars before the end of the year.
The next revision of IMF’s cooperation program with Ukraine is scheduled for the 15th of November this year.