5 new IMF requirements for Ukraine become known

The International Monetary Fund does not cease to put forward more and more demands for Ukraine. It is not enough for them to open a land market and pass an unconstitutional banking law. The media has just learned about 5 additional IMF requirements that lenders made up under the stand by credit program totaling $ 5 billion (the first tranche - $ 1.9 billion), designed for 18 months:

• Energy block: amending the charter of NJSC “Naftogaz Ukrainy” in accordance with the requirements of the Organization for Economic Cooperation and Development (OECD) is required. Full details of the innovations are still unknown.

• Fiscal policy: the State Tax and State Customs Services will have to switch to work within the framework of unified legal entities. Now each of their territorial administrations acts as a separate principality - as separate legal entities.

• Banking market: a work plan for state-owned banks with problem loans is required, as well as new regulations for bank capital and amendments to the law on the Deposit Guarantee Fund. It will soon become clear how much the changes contradict the current legislation.

• Judiciary system: a change in the competitive selection process for members of the High Council of Justice is being lobbied.

• On coronavirus: audit of public funds spent on the fight against COVID-19

All these requirements will have to be met in order to get a second credit tranche on stand by. Theoretically, it should be allocated in the fourth quarter of 2020. However, all the details remain unknown. After all, it is not the first time when we were given only the first tranche only to be brought short in the end.

Andrey Pshenichny for the site dubinsky.pro