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Lagarde to meet Ukrainian president in Davos

IMF notes the necessity to improve the adopted pension reform in Ukraine as there are some particular disadvantages in the law
15:18, 19 January 2018

president.gov.ua

Christine Lagarde, the Managing Director of the International Monetary Fund (IMF) plans to hold a meeting with Petro Poroshenko, the President of Ukraine during the World Economic Forum (WEF) that will take place in Davos on January 23-26. Gerry Rice, the spokesperson of the IMF claimed this at the briefing in Washington on January 18.

'Lagarde and Poroshenko plan to meet each other in Davos as they did before during the previous meetings in Davos', he noted.

Related: What would happen if Ukraine broke up with IMF?

Rice supposed that the sides will discuss 'the recent events and the perspectives of the reforms in Ukraine'.

According to Rice, the IMF expects that the draft law on the Supreme Anti-corruption court will be improved between the readings in the Ukrainian parliament.

'The concern on the incompliance of some points of the draft law with the commitments of Ukraine within the EFF program and recommendations of the Venice Commission is expressed in the letter sent to the authorities of Ukraine. We hope that the authorities will take into account the attitude of the IMF and the draft law will be improved between the readings in the parliament', he noted.

Related: Now less loyal: IMF to abandon its "political" tranches to Kyiv

He also reminded that the creation of the Anti-corruption court is one of the key points of the demands of the cooperation program between Ukraine and IMF.

Moreover, Rice noted the necessity to improve the adopted pension reform in Ukraine as there are some particular disadvantages in the law.

'The pension law introduces some important provisions to modernize the pension system in Ukraine but also has some shortcomings that undermine incentives for people to work longer and contribute to the system ', Rice claimed.

Related: Ukrainian Finance Ministry expects more than two IMF tranches in 2018

'It makes the pension system unstable so we think a bit more work needing to be done there'.

As it was reported earlier President of Ukraine Petro Poroshenko submitted his version of the bill on creation of the anti-corruption court to the Parliament, according to the website of the Verkhovna Rada. The draft was submitted on Dec. 22 and registered under number 7440.

Earlier the IMF informed the Ukrainian authorities that the adoption of the presidential draft law on the Anti-corruption court in the current edition is the violation of the commitments of Ukraine to the IMF and contradicts the recommendations of the Venice Commission.

Related: Delay of IMF tranche threatens economic stability of Ukraine, - National Bank

The Administration of the President claimed that the draft law on the Anticorruption Court complies with the norms of the Constitution and recommendations of the Venice Commission. However, the World Bank informed the Ukrainian authorities on the necessity to make the amendments to the presidential draft law on Anti-corruption court to satisfy all requirements and recommendations of the Venice Commission.

Also, the EU officials reminded on January 18 that the creation of the anti-corruption court in Ukraine is vital for completing the visa-free regime requirements

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