Francis Malige, EBRD Managing Director for Eastern Europe and the Caucasus, has said Ukraine is considerably behind schedule of the IMF’s funding program, particularly, because of its resistance to certain reforms, UNIAN reports.
In an interview with RBC Ukraine, Malige has said that Ukraine needs to enter the international capital market for further financing, hence, it is necessary to continue reforms. Simultaneously, according to the envoy, the International Monetary Fund is now considerably delaying another aid tranche allocation.
After all, according to the timetable, Ukraine should be receiving its 12th tranche. Malige said that Ukraine had received only four tranches while the terms for the next allocation remain unclear. He explained that the country receives every tranche from the IMF once it implements a package of reforms across many areas of affairs.
Particularly, last autumn, Ukraine’s Parliament passed a low on privatization and pension reform, which benefitted the continued cooperation with the International Monetary Fund. At the same time, IMF requirements also make Ukraine fix the methodology for calculating the gas price for households and establish the Anti-Corruption Court.
According to the EBRD executive, internal resistance to these reforms remains a significant problem for Ukraine. In case such resistance remains, it will be difficult for the country to attract funding from international financial donors, the official said.