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IMF expects Ukraine to adopt law on banks and changes to 2020 budget

Source : 112 Ukraine

The Fund calls on Kyiv to continue working with the World Bank to ensure land market
11:55, 4 April 2020

Open source

The International Monetary Fund welcomes the adoption of the bill on banks and expects its adoption as a whole, as well as the adoption of amendments to the state budget for 2020. IMF Resident Representative in Ukraine Yosta Lyungman stated this, Interfax-Ukraine reports.

"We welcome the support of the law (...) aimed at strengthening the fundamentals of bank restructuring, and look forward to its final adoption. We also look forward to the adoption of amendments to the budget for 2020, which will help the authorities respond to emergency calls that have arisen as a result of Covid-19," Lungman said.

Related: People in self-isolation can go to pharmacy and store no further than two kilometers from house

He also called on Ukraine to continue working with the World Bank: "At the same time, we urge the authorities to continue working with the WB to ensure an efficient, transparent and competitive land market."

On March 30, the Verkhovna Rada voted in the first reading for the bill on improving some banking regulation mechanisms, the adoption of which is one of two conditions for concluding a new agreement with the International Monetary Fund. The second condition was the adoption of a law on the land market, which parliamentarians adopted as a whole on the same day.

At the same time, five thousand amendments to the second reading have already been submitted to the bill on banks, which may significantly delay its consideration. The last day for submitting amendments is April 6.

Related: 1,096 cases of infection with coronavirus revealed in Ukraine, - Ministry of Health

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