Zelensky announced Ukraine's failure to comply with IMF requirements

KIEV, 22 Feb – RIA Novosti. Ukraine has not fulfilled a number of requirements of the International Monetary Fund to receive the next tranche, including not passing the law on the High Council of Justice, but expects to receive the fund's funds by the end of the year, Ukrainian President Volodymyr Zelenskyy said on Monday.

In December 2020, the IMF mission began its work on revising the stand-by program. The National Bank of Ukraine noted the progress in negotiations with the IMF mission to revise the program, and highly appreciated the chances of achieving this goal. On January 28, Minister of Finance of the country Sergei Marchenko announced that the work of the IMF mission had been extended by 7-10 days. On February 13, IMF Permanent Representative in the country Jost Lyngman said that the Fund's mission completed its work in Ukraine without result, noting that more progress is needed to complete the first revision of the program. Earlier, Prime Minister of Ukraine Denis Shmygal said that Kiev expects to receive a tranche from the IMF in the first quarter of 2021. “The program has not been implemented due to some things. For example, in the legal direction – the law on the High Council of Justice. They have been fed for many years that this law. And now we have to do some things very quickly. It's not easy … We count on this money. I am sure of this (that by the end of the year Kiev will receive money from the IMF – ed.), “Zelensky said during a conversation with journalists.

According to him, Kiev should also adopt a number of bills in the economic sphere.

Zelensky noted that he has a number of questions on the requirements of the IMF under the law on the High Council of Justice. “There are many amendments about the High Council of Justice, there are questions from the Constitutional Court. We must create a bill, which the Constitutional Court later recognizes as complying with the constitution,” Zelensky said, answering the question that he is not satisfied with the requirements of the fund.

In early June 2020, the IMF Board of Governors approved a new program of support for Ukraine for a year and a half, totaling $ 5 billion. The country has already received the first tranche of 2.1 billion. According to the memorandum, it was expected that the allocation of this 2.1 billion after the approval of the program should be followed by transfers of the remaining in four installments, approximately $ 700 million each, two of which were supposed at the end of June and at the end of September, the rest – following the results of two reviews in 2021 year.

Author: wedocount

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