The IMF gave the green light to a new loan for Ukraine in exchange for the privatization of the remaining state property and an increase in tariffs
The International Monetary Fund has revised the terms of lending to Ukraine.
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About it evidenced by the text of the memorandum published by the Ukrainian website “Apostrophe”.
In particular, the terms of the loan in September is the privatization of five state-owned enterprises from the list of priority objects for privatization. Most likely we are talking about ports and gas distribution enterprises.
The IMF has identified the restoration of stability and confidence in the financial sector as the main priority for Ukraine in the near future, as well as the financial stabilization of Naftogaz of Ukraine, which should move to purchasing currency on the interbank foreign exchange market, and not from NBU reserves.
The Ministry of Finance of Ukraine is committed to improving the financial performance of state-owned banks.
According to the memorandum, by the end of August the government must revise the formula for distribution accounts for paying for centralized heating, which will allow Naftogaz to gradually receive payment of companies' debts for gas. The government must also approve by September the by-laws necessary to adopt a new law on the gas market.
Let us recall that on July 31, the Board of Directors of the International Monetary Fund (IMF) approved the allocation of the 2nd tranche of a loan to Ukraine under the EFF program in the amount of $1,7 billion.
Over the next three years, it is planned to allocate four tranches annually in the amount of SDR437,975 million (about $620-630 million). The condition for the provision of funds will be a quarterly review, the first of which will analyze the fulfillment of the program performance criteria at the end of March this year.
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