Parliament approves anti-Kolomoyskiy bill, new Finance Minister appointed

UKRAINE - In Brief 30 Mar 2020 by Dmytro Boyarchuk
Parliament has voted in so called anti-Kolomoyskiy law from the ‘list-to-do’ of the IMF. The law blocks return of nationalized Privatbank to its former owners Igor Kolomoyskiy and Genadiy Boholyubov. It was only first reading and more work should be done but it’s already a great step forward. Resistance was incredible. Kolomoyskiy has mobilized all his media capacities to persuade Ukrainians that default is a good option i.e. no need in the IMF funding. Surprisingly, but ‘let’s default’ move, led by such people as Oleksandr Dubinskiy, former journalist and currently MP, took really threatening scale. Despite president Zelenskiy made it clear that default is not acceptable, none was sure about number of MPs potentially supporting anti-Kolomoyskiy bill. Luckily Golos of Viacheslav Vakarchuk and European Solidarity of Petro Poroshenko gave their voices in support today. Now all eyes on land reform. The initial design of land market has been already changed. MPs are concerned about small- and micro-farmers’ access to loans during COVID-19 crisis. Against this backdrop land market launch is proposed to be moved to July 1st, 2021 (previously, October 2020). On the top of that MPs have curtailed size of land plot in one hand – down to 100 ha for individuals from 200 thnd ha, previously; while legal entities will be allowed to buy land from 2024 with 10 thnd ha cap in one hand. State owned lands and lands of communities will not be for sale at all. Foreigners could buy lands only after national referendum. We assume the anti-Kolomoyskiy law, approved today, was allegedly blessed by the Fund. At least MPs, who supported the law, treat it so. But we have no idea how the IMF migh...

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