A mission of the International Monetary Fund (IMF), Ukraine`s key creditor, plans to visit Ukraine as part of the next review of the country`s reform program, which was approved by the Fund in March last year, according to the Finance Ministry`s press service.
”[We expect arrival] from October 26,” the press service statement read.
As UNIAN reported earlier, the IMF on September 14 announced the completion of the second review of the four-year program of cooperation with Ukraine and decided to allocate the third loan tranche worth $1 billion. The total amount of funds already allocated amounts to $7.62 billion of total lending target of $17.5 billion. The decision on the allocation of funds was made after more than a year break in relations between Ukraine and the IMF.
Ukraine expects to obtain another loan tranche within the Extended Fund Facility in the amount of $1.3 billion by the end of the year.
However, the disbursement of funds is linked to Ukraine`s progress in developing and presenting a new model for the pension system reform, whose start is planned next year, the launch of the land market, introducing tax changes, including the abolition of the special VAT regime for Ukrainian farmers and a simplified taxation system for legal entities. The IMF will also review the country`s draft budget for 2017.