Voiced new demands of the IMF to Ukraine

Озвучены новые требования МВФ к Украине

Announced new requirements for Ukraine

After the requirements expected of a new tranche.

For the completion of the fourth review of the EFF program with the International monetary Fund (IMF) needs to be performed key requirements: pension reform, privatisation and the fight against corruption. This was reported by the official representative of the Fund, William Murray, writes Interfax-Ukraine.

“Fourth review of the program by the Board of Directors possible after the required in the framework of the revision of the reform will be implemented. The main ones are the pension reform, measures to accelerate privatization and concrete results in the fight against corruption,” he said during the traditional briefing in Washington on Thursday.

In addition, said Murray, the fourth revision also important are the continuation of fiscal reform and energy sector reform.

With regard to land reform, according to the IMF, it still is an important condition of the program. However, in order to reach consensus on key issues, you must postpone it to the end of the year.

Open the IMF in March 2015, the four-year EFF program total amount of SDR12,348 billion (about $16,75 billion at current exchange rates) with the first tranche of $5 billion originally envisioned by the quarterly revision of the program, the allocation in 2015 of three more tranches of SDR1,18 billion (about $1.6 billion) and a decrease in quarterly tranches in 2016-2018, up to SDR0,44 billion ($0.6 billion).

Ukraine was able to obtain a small delay in the second tranche for this program to $1.7 billion in early August 2015, and then there was a long pause because of the outstanding number of conditions, political crisis and change of government.

After the arrival of the new Cabinet headed by Groisman in April 2016, the negotiations on the continuation of funding was resumed, however, the IMF decided to allocate the third tranche of $1 billion only in mid-September, the fourth – 3 April 2017.

According to the new schedule further discussion of the economic programme of Ukraine, approved by the Board of Directors, together with the fourth tranche before the end of 2017 was scheduled three review: the fourth – in mid-may, the fifth – in the middle of August, the sixth in mid-November. In case of successful implementation of authorities prescribed by the program requirements of Ukraine for the fourth revision could raise $1,907 billion, at the end of the fifth $1.28 billion, according to the results of the sixth – $1.28 billion overall – about $4,46 billion

In 2018 planned remaining four review, the results of which Ukraine may raise about $955 million total – about $3,82 billion.

We will remind, earlier the media said that the IMF is ready to close eyes on land reform.

The IMF warned about a new financial crisis
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