Ukraine’s failure to fulfill two prior actions, the adoption of a law on the anti-corruption court and the introduction of a mechanism to adjust gas tariffs to market rates, have prevented Ukraine from receiving the next IMF disbursement, Ukraine’s Finance Minister Oleksandr Danyliuk has said.
“Adoption of the anti-corruption court law is a top IMF demand, as well as the top demand of Ukrainians,” Danyliuk said on April 18, speaking at the non-governmental Atlantic Council in Washington, D.C.
Danyliuk said the anti-corruption bill has passed its first reading, noting numerous amendments to the document have been submitted prior to its second reading, delaying final passage.
“I am optimistic the bill will pass,” Danyliuk said, adding the law could be ready in April or May 2018.
As for gas tariffs, Danyliuk said the creation of a competitive gas market is of paramount concern.
Among steps to achieve this goal, he said from January 1 of this year subsidies have been monetized, which helps NJSC Naftogaz Ukrainy and other gas suppliers to get paid.
“I’m positive about prospects for receiving the next IMF tranche,” Danyliuk said, adding there is a good possibility of receiving $2 billion from the IMF in May or June this year.
The minister said the money would shore up National Bank of Ukraine reserves and would help the country attract loans to offset the budget deficit.
