Danyluk revealed details of the updated Memorandum with the IMF
A renewed Memorandum between Ukraine and the IMF includes provisions on pension, land, banking and other reforms wazny
This was stated by the Minister of Finance of Ukraine Alexander danyluk, reports the correspondent of TSN.
“In fact, we need to understand most importantly, what the IMF wants and what we want is a fair balanced pension system”, – said the head of the Ministry of Finance.
For this, according to him, it is necessary to carry out a pension reform which will balance the Pension Fund that there was no deficit, “not immediately, of course, but it should be a certain period, a particular vector in order to get rid of the deficit in the Pension Fund to a stable retirement and had a clear understanding that in future the pension will be fair.”
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Also in the Memorandum there is a provision on the land market. According to danyluk, the land market in Ukraine de jure does not exist. “In practice he is, lands are bought, sold, everything is gray, the strange schemes,” the Minister stated. Why it is so important to achieve now that the land market is earned, especially for the agricultural sector.
“This is our competitive advantage – the agricultural sector, but through the limitations that we have set ourselves, we not only do our citizens poorer, but also artificially limit the potential of the agricultural sector”, – said the head of the Ministry of Finance.
The Memorandum States, and reform of the state banks.
“Now we own as a state 55% of the banking system. This is a very high proportion, and we need as soon as possible to improve the performance of these banks so that they do not “distort” competition and plan how to get out of these banks, because it is clear that the state can not possess 55% of the market, it harms economic development,” said danyluk.
Recall that Ukraine has already received from the IMF on a new extended credit programme 7.7 billion dollars. The last installment was in September of 2016, when Kiev received $ 1 billion.
Overall, the program signed in the spring of 2015, for four years, and the total amount of the loan amount to $ 17.5 billion.
Earlier, the head of the NBU Valery Gontareva said that in spite of the delay of the fourth tranche, the baseline scenario provides for four tranches of the IMF in the amount of $ 5.4 billion in 2017.
By TSN correspondent Natalia Song.