Ukraine expects IMF Board of Directors meeting in 1st half of July – source

Ukraine expects that the Board of Directors of the country`s key creditor – the International Monetary Fund – will hold a meeting in the first half of July on the second revision of the reform program, will approve the Memorandum on the implementation of the program and adopt a plan of action, a government source close to negotiations told an UNIAN correspondent.
”The date of the Board meeting has not yet been approved, but we expect that this will be the first half of July,” the source said. He also stressed that the Memorandum on the implementation of the program had really been formed, agreed on all key issues and does not contain any disputed norms, which could be an obstacle for its signing.
”Currently, we do not have controversial issues. There are challenges that we must meet. This is the adoption of draft laws on the reform of the State Fiscal Service, as well as the launch of electronic declaration,” the source said.
He noted that there were no provisions on the mandatory increase in retirement age or the amount of additional capitalization of banks in the text of the Memorandum prepared for the July meeting of the IMF Board of Directors. At the same time, the model of pension reform is one of the points of the future work with the Fund. ”We are talking about that fact that in the future, together with the IMF, we will work out a model of the pension system and, consequently, the pension reform,” the source said.
At the same time, the agency`s source has stressed that the amount of a potential tranche, which can be allocated for Ukraine after the meeting of the IMF Board of Directors, is the subject of discussion. ”In any case, the decision will be taken by the Board of Directors. We expect that it will be $1.7 billion, as planned. However, the amount of the tranche is not important for us now, rather it`s the fact of the meeting on Ukraine and the continuation of cooperation with our country. If for any reason we come out of this unique cooperation program, it will be a very negative scenario. This year is crucial for reforms and the implementation of the IMF program,” the source said.

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