IMF mission recommends Ukraine to focus on pension and land reforms

IMF mission recommends Ukraine to focus on pension and land reforms

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Ukrinform
An International Monetary Fund (IMF) mission recommends Ukraine to focus on the pension and land reforms, measures to speed up the privatization and ensure concrete results in anticorruption so that to achieve stronger and sustainable growth.

This has been stated in a press release issued by the IMF mission, led by Ron van Rooden, visited Kyiv during May 16-26.

“The Ukrainian economy continues to recover, with growth expected to exceed 2 percent in 2017. Fiscal and monetary policies remain on track to meet the 2017 targets. Gross international reserves have increased further to US$17.6 billion, and inflation is projected to fall below 10 percent by the end of the year. While the near-term outlook is positive, decisive implementation of structural reforms remains critical to achieve stronger and sustainable growth that Ukraine needs over the medium-term,” reads the statement, the text of which is available to Ukrinform.

Also, the IMF mission in its statement said that “in this regard, the mission held constructive discussions with the authorities on reforms needed to improve productivity, attract investment, and continue to strengthen public finances”.

“As envisaged under the program, discussions focused on the pending pension and land reform and on measures to speed up the privatization process and ensure concrete results in anticorruption efforts. While good progress has been made in building understandings on the key elements of these measures, further technical work is needed in some areas to transform these into draft laws that meet the reform objectives. Securing parliamentary approval of these draft laws will be needed to pave the way for the completion of the fourth review,” reads the statement.

In addition, the IMF mission stated that IMF staff, in cooperation with other international partners, will remain closely engaged with the authorities in the coming weeks to advance the reform agenda

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