IMF review of Ukraine pension reform is ongoing: IMF official
The International Monetary Fund is still evaluating recent Ukrainian pension legislation to see if the bill meets the targets of the $17.5 billion IMF program, the Fund’s Ukraine representative Goesta Ljungman said on Friday, according to Reuters.
“We are now in a process of evaluating the reform,” he said at a conference, Reuters reports.
He said sustainable pension reform, privatization legislation, and a previously agreed domestic gas price adjustment are the goals Ukraine must meet to qualify for a long-delayed next tranche of loans from the program.
As UNIAN reported earlier, the National Bank of Ukraine hopes to receive a new disbursement from the International Monetary Fund under the Extended Fund Facility program in the first quarter of 2018.
In March 2015, the IMF approved a four-year EFF loan program for Ukraine under which US$17.5 billion will be disbursed. Ukraine has already received four disbursements from the Fund to the tune of US$8.7 billion.
The next IMF mission was originally expected in Kyiv in the second half of September 2017.
On October 3, the Verkhovna Rada of Ukraine has passed a bill on pension reform, which introduces requirements for the minimum pension insurance record for retirement and provides for an increase in retirement benefits to be paid to 9 million pensioners in the amount of UAH 200 to UAH 1,000 each per month starting from October.