IMF delays its tranche for Ukraine as key reforms not implemented – mass media

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The International Monetary Fund (IMF) will provide Ukraine with the next tranche under the Extended Fund Facility (EFF) program not earlier than autumn because the Verkhovna Rada of Ukraine has not adopted yet the required laws, in particular on pension and land reforms, Bloomberg reports. 

“The next transfer of Ukraine’s $17.5 billion international bailout will be delayed until later this year because parliament won’t pass all of the required reforms before its summer recess,” reads the report.

The Ukrainian Parliament will break for summer vacation on July 14 and will reconvene in early autumn. And thus, the process of reforms implementation is procrastinated.

This delay will hold up the fifth IMF tranche totaling $1.9 billion, which was scheduled for June-July, although, as Ukrainian Prime Minister Volodymyr Groysman assured, the Government remains committed to its plans to carry out the program of reforms.

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