Jaresko: IMF statement must speed up reforms

Statement key creditor of Ukraine International monetary Fund about the possibility of suspension of cooperation with Ukraine, due to the slowdown of reforms and the lack of results in the fight against corruption is a direct indication of the need to accelerate reforms, said the Minister of Finance of Ukraine Natalie Jaresko at the meeting of the Verkhovna Rada Committee on economic policy on Wednesday, 10 fierce 2016, reports UNIAN.

«Today’s announcement emphasizes the need to accelerate reforms. We have no issues with the IMF on budget, almost no questions to the text of the Memorandum (second review of the programme of reforms — ed.) but there is a question about how we behave in the political crisis, will we speed up reforms, — said Yaresko. Is evidence that the tranches do not give without reforms. It is necessary to accelerate reforms.»

As reported previously the managing Director of the IMF Christine Lagarde said that the international monetary Fund is concerned about the situation in Ukraine, weakening of the public administration reform and the lack of effective fight against corruption. In this regard, the Fund may suspend the program of cooperation with Ukraine, because it will be very difficult to implement it.

According to Lagarde, the government of Ukraine risks repeating the past experience of the collapse of the reforms. «Ukraine risks return to the time of the failure of the reforms that the country has experienced in recent history. In this regard, it is important that the leadership of the country returned to Ukraine on a promising path of reform», — said the head of the IMF.

In March 2015, the IMF approved the program of crediting of Ukraine’s economy using the mechanism of the eff (Extended Fund Facility — EFF) for a total volume of 17.5 billion dollars a period of 4 years. The first tranche under the new program in the amount of $ 5 billion. Ukraine received March 13, the second at $ 1.7 billion — August 4, 2015.

The second revision of the programme took place for Ukraine in two stages. The Foundation’s mission was working in Kyiv in September last year and October 2, 2015 suspended negotiations due to the necessity of local elections, as well as discussions within the country on tax reform and the draft budget for 2016. In November, negotiations resumed.

Currently Ukraine and the IMF agree on a report on the progress of reforms and the Memorandum of the second revision of the programme and further action of the parties, which will consider the Board of Directors of the Fund. Parties discuss a wide range of issues in the second review of the cooperation program, which includes various aspects of monetary, banking, anti-corruption policy, pension reform and privatization.

Jaresko: IMF statement must speed up reforms 11.02.2016

Февраль 11th, 2016 by
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