Feb 16, 2021
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IMF: Kiev will not receive money until it fulfills the conditions

Compliance with IMF requirements will make Ukrainian citizens even poorer

The International Monetary Fund (IMF) completed the mission on the first revision of the financing program of Ukraine in the format expect, without making a positive decision, therefore, there will be no revision.

“The discussion was productive, but more progress is needed in favor of completing the first revision of the program. Discussions will continue “,

– stated in the statement of the head of the IMF office in Ukraine Jost Lyngman

According to him, the Fund has some conditions, if they are fulfilled, the mission can visit Ukraine in April-May for the next attempt to revise the program expect

The Ukrainian Internet publication lists the conditions of the International Monetary Fund that Kiev will have to fulfill if it wants to receive the next tranche.

First, it is strengthening the management of the National Bank (NBU).

Second, the IMF proposes to improve “Legislative and regulatory framework for banking supervision” and to adopt new amendments to the law on banks in general and, in particular, on the NBU, these amendments have already been made to the Verkhovna Rada. According to the publication, the adoption of these amendments will strengthen the NBU’s dependence on international financial structures. By the way, another condition of the IMF is control over the judicial system of Ukraine.

The third condition is that it is necessary to carry out a number of measures that would reduce the budget deficit in the medium term, as well as clarify the situation regarding budget plans for the next year.

“This is a very broad concept. But, obviously, we are talking about the fact that the revenue side grows faster than the expenditure side. And so that such a huge budget deficit as in 2020-2021 is no longer allowed. And this means, on the one hand, an increase in tax collection (both by increasing them and by tightening the administration and control over the flow of funds of Ukrainians), on the other hand, limiting the growth of expenses. Including, obviously, according to social standards “,

– writes

The next demand of the IMF is to strengthen anti-corruption actions, including the adoption of tough laws on criminal liability for dishonest declaration. Zelensky such a bill has already been submitted to the Verkhovna Rada, but no one is in a hurry to vote for it.

And one more IMF demand, which will hit the entire population of Ukraine, is the refusal to limit gas prices, which was introduced this winter after massive “tariff” protests throughout the country. Even then, experts warned that this was contrary to the requirements of the IMF, but the government assured that they would be able to come to an agreement with the Fund. But they couldn’t …

These are not all of the IMF’s demands, but only the most pressing ones.

Own corr. FSK

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