The IMF may suspend financial support to Ukraine – media

The international monetary Fund may suspend the financing of Ukraine, the parliamentary Committee on taxation and customs policy will submit to Parliament a draft tax reform.

About this informed the head of Committee on taxation and customs policy Nina Southerner after the meeting with the permanent representative of IMF in Ukraine Your Jerome, writes «Economic truth».

According to her, Your skeptical attitude to the project of tax reform developed by the deputies.

«He (Your) said in early November attended by the representatives of the economic bloc of the mission and they’re ready to contact us to sit down at the calculations,» she said.

«Your said that if we register the bill now, he will make a statement that the IMF mission does not support our reform. This will have a negative outcome for donor countries of Ukraine, who listen to their opinions,» said the Southerner.

According to Juaninos, in order to remove the possible cause for speculation that developed by the Committee and experts, the reform project is a political maneuver ahead of the elections, decided to register the bill on Monday.

«I think it will lead to the fact that we will sit down with Natalia Jaresko to the negotiating table and will look for compromises. What kind of compromises are we talking about? For example, everyone understands that reducing the tax burden on wages has to happen right now, January 1, 2016,» said the Southerner.

According to her, if the abolition of preferential tax treatment VAT for farmers and the replacement of this benefit by subsidies from the budget will require more time, including in order to look left or not any corruption schemes with VAT, deputies are ready to discuss it.

«And if we need time for it to approach the lower VAT rates from 1 July, or 1 October 2016 or January 2017 — MPs are willing to consider these options,» said the Southerner.

She also noted that one of the main issues with the IMF concerned the joints.

According to calculations of the Ministry of Finance worked out by the deputies and experts, the model of tax reform promises a loss to budget of $ 207 billion.

On March 11 of this year, the IMF approved the program of crediting of Ukraine’s economy using the mechanism of the eff (Extended Fund Facility) with a total volume of 17.5 billion. for 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. — 4 August. From 22 September, in Ukraine there are another IMF mission. The Fund’s representatives have already noted the positive changes in economy of Ukraine, however, according to them, the first half showed a bigger drop than expected. And because the mission has revised the forecast of falling of economy of Ukraine in 2015 to minus 11% drop in GDP against previously issued minus 9%.

At the same time, an increase of 2% possible in 2016 — a growth of consumption, investor confidence, improve export performance and liberalization of the banking system. Thus, earlier the Finance Minister of Ukraine Yaresko stated that by the end of the mission, the government expects that Ukraine will successfully receive the third tranche of the IMF loan, which will be forwarded to the reserves of the National Bank.




The IMF may suspend financial support to Ukraine – media 22.10.2015

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