The International Monetary Fund, the IMF, will not allocate the next loan for Ukraine until the end of the year. The reason is that the Verkhovna Rada, the Ukrainian parliament will not have enough time to approve all the necessary reforms by the end of summer. Bloomberg reported that, quoting Ukrainian Prime Minister Volodymyr Groysman.
‘While a pension overhaul is on schedule and steps are being taken to create an anti-corruption court, a bill on land reform won’t be submitted in time, Prime Minister Volodymyr Hroisman said in an interview. The delay will hold up the $1.9 billion fifth tranche of the nation’s International Monetary Fund rescue, though the government remains committed to the program, he said’, the news agency wrote.
The head of the Ukrainian government said this Cabinet remains committed to the reforms. ‘We’re working on the reforms and the fifth tranche will arrive,’ Groysman said as quoted by Bloomberg.
According to the news agency, the IMF holdup could push back Ukraine’s plans to return to international debt markets.