Ukraine got the money – or will soon: another $1 billion loan from the International Monetary Fund, bringing to $8.38 billion the amount lent to the nation since 2015. But the IMF set out its own list of demands that it expects Ukraine to fulfill by 2019 if it hopes to get another $9 billion in low-interest loans.
Here’s some of the IMF’s demands:
- Structural reforms need to be accelerated.
- A start needs to be made with privatization and developing a market for agricultural land.
- Corruption needs to be tackled decisively. Despite the creation of new anticorruption institutions, concrete results have yet to be achieved.
- Public debt remains high…Ukraine cannot afford to delay comprehensive pension reform much longer, including by raising the effective retirement age.
- Sustained efforts are also needed to improve revenue administration and advance public administration reform.
- The recent nationalization of Ukraine’s largest bank was an important step to safeguard financial stability, but must now be followed by firm efforts to ensure repayment of loans to minimize the cost to taxpayers. The recapitalization of other banks and the unwinding of related-party exposures need to be completed.
The entire IMF press release can be read here
