The IMF mission ends with "no result"

UKRAINE - In Brief 13 Feb 2021 by Dmytro Boyarchuk
The IMF virtual mission finished its work, reported the head of the IMF office in Ukraine Goesta Ljungman, according to Interfax Ukraine news agency. Predictably, no staff level agreement was reached. “The discussion was productive; however, more progress is needed towards completing the first revision of the program. The discussions will continue," stated Mr. Ljungman. There were too many blunders on the side of Ukrainian authorities for the Fund to ignore. Stalled judicial reform, regular attacks on anti-corruption vertical, constitutional crisis, hryvnia printing for the needs of deficit financing, returned price regulation at the natural gas market – are the points preventing next wire. Also the audit of the COVID fund was mentioned. “The discussions focused on strengthening the National Bank management; improving the legislative and regulatory framework for banking supervision and financial recovery; measures aimed at reducing the fiscal deficit in the medium term; legislative initiatives to restore and strengthen anti-corruption infrastructure and justice”, Interfax Ukraine cites Goesta Ljungman. If some progress does take place, the next mission might start in April-May. Remarkably, today President Volodymyr Zelenskiy announced his intention to submit a draft law curtailing the authorities of District Administrative Court of Kyiv (DACK), which is empowered to suspend the decisions of national state agencies. The authority to review administrative cases against national state agencies will be passed to the Supreme Court, promised the president. The initiative is perfectly in line with the IMF requirements. Also Zelenskiy stated that he is initiating a reload of t...

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