The Finance Ministry is afraid of people’s deputies with a jump in inflation

Минфин пугает нардепов скачком инфляции

The hryvnia will collapse in case of non receipt of the IMF tranche, says danyluk

Danilyuk declares that in the event of the failure of the law on the anti-corruption court, in Ukraine, the hryvnia will collapse and prices will soar.

Finance Minister Alexander danyluk sent MPs a letter in which he calls immediately to adopt a law on anti-corruption court to unlock funding from the IMF. A copy of the letter published by Ukrainian Pravda.

Danyluk asked MPs to “put aside all existing political disputes” and “to make a decision of historical importance”.

“I remind you that Parliament approved the state budget for 2018 was based on the assumption that Ukraine was successfully implementing the program of cooperation with the International monetary Fund. This implies, in particular, the establishment of a Higher anti-corruption court. It is a critical vote for the law, agreed with our international partners edition,” explains the Minister.

He warns that if the Verkhovna Rada does not adopt such a decision, the country faces “serious financial and political consequences”.

Danyluk recalls that the failure of the IMF program deprives Ukraine of the possibility to obtain loans to Finance the state budget and the confidence of foreign investors. And this, according to the Minister, in light of the fact that over the next five years, Ukraine must repay foreign debts of more than $ 23 billion.

“In case of failure of the program budget expenditures for 2018 should be reduced by about $ 4 billion. To stabilize the situation, the state will be forced to spend its foreign exchange reserves, which will lead to the devaluation of the hryvnia and jump in inflation,” he said.

The main financier of the country predicts that such a scenario is a threat to national security and “discarding state development on that years ago.”

Earlier today there was a letter to the IMF dissatisfaction with the recent decisions of the Cabinet in respect of the Ministry of Finance that the Ministry is deprived of authority to approve financial documents of the government. The Fund emphasizes that Ukraine violates the commitments made while receiving the previous tranche from the IMF.

 

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