IMF postpones financial aid to Ukraine - Bloomberg

22:30, 04 July 2017
Economy
400

The fifth tranche of Ukraine’s bailout by the International Monetary Fund, this one totaling $1.9 billion, will be allocated for Ukraine no earlier than autumn 2017, Bloomberg reports citing Ukraine’s Prime Minister Volodymyr Groysman.

Иллюстрация REUTERS

The next transfer of Ukraine’s $17.5 billion international bailout will be delayed until later this year because parliament won’t pass all of the required reforms before its summer recess, Bloomberg wrote.

While a pension overhaul is on schedule and steps are being taken to create an anti-corruption court, a bill on land reform won’t be submitted in time, Prime Minister Volodymyr Groysman told Bloomberg, adding that the government remains committed to the program.

Read alsoIMF to lift land market launch requirement from Ukraine memo - media“We won’t make it by the recess,” Groysman said Monday in the capital, Kyiv, referring to the land bill, which may instead pass by year-end.

The IMF holdup could push back Ukraine’s plans to return to international debt markets, according to Bloomberg.

“Someone says the IMF demands reforms from Ukraine, but I want to underline that we shouldn’t take it as the IMF needing reforms -- Ukraine needs reforms,” he said. “We should implement the IMF program in full. That’s our task.”

“We’re working on the reforms and the fifth tranche will arrive,” said Groysman.

If you see a spelling error on our site, select it and press Ctrl+Enter