President Zelensky warned of the threat of default if on March 30 Verkhovna Rada does not vote on the laws necessary to receive the next tranche from the International Monetary Fund. He stated this in his video address on March 29.
“Because of the coronavirus, our country has actually come to a crossroads and has two paths. The first is the adoption of two vital laws, after which we would receive support from our international financial partners in the amount of at least 10 $ billion dollars. This is necessary to stabilize the country's economy and overcoming the crisis. Otherwise, the second way, is the failure of these laws, after this - the decline of the economy and even the threat of default," the head of state said.
Earlier, Zelensky stated that within 15 days after the parliament votes on laws on banking and launching the land market, Ukraine will receive the first fast tranche of $ 2 billion from the IMF.
“Now we can get a minimum increase in the program up to $ 8 billion - if we continue to receive a minimum of $ 10 billion together with the World Bank and the EBRD. We’re talking further and we are definitely supported by Azerbaijan, I don’t want to distribute this information yet. I also agreed with Mr. Aliyev, thankful to him. We also talked and are waiting for an answer from the Prime Minister of Canada Trudeau," Zelensky said.
He added that the IMF's condition is the adoption of two laws on bank system and land ownership.
As we reported, an extraordinary meeting of the Verkhovna Rada will be held on Monday; MPs will pass a law on the sale of land.