Ukraine's Sluggish Action On Reforms Delayed Receipt Of Loans



Ukraine's Sluggish Action On Reforms Delayed Receipt Of Loans

Ukraine's Finance Minister Natalie Jaresko disclosed July 3 that the government failed to get $3 billion in loans from the International Monetary Fund and World Bank this week because it has not complied with their demands for reform.

The IMF said July 2 it would release funds after Ukraine met undisclosed conditions. In a posting on Facebook, Jaresko said the Ukrainian parliament delayed action on four legal reforms that must be passed to obtain a $1.7 billion loan installment from the IMF and another $1.3 billion from the World Bank.

"This week, our country might have complied with the conditions necessary for further progress," she wrote, but none of the reforms were adopted.

Jaresco urged parliament to pass legislation safeguarding bank deposits for small savers; giving legal powers to a national anti-corruption bureau; regulating public utilities; and reforming the Naftogaz gas company.

"We call on deputies to make the adoption of these laws the first priority of the next plenary week," she said. "We cannot afford to disregard the

financial support the people of Ukraine need so much in the days of the grave economic crisis."

With reporting by TASS

Copyright (c) 2014. RFE/RL, Inc. Republished with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave NW, Ste 400, Washington DC 20036

Ukraine's Sluggish Action On Reforms Delayed Receipt Of Loans

Ukraine's Sluggish Action On Reforms Delayed Receipt Of Loans

RFE
4th July 2015, 15:17 GMT+10

Ukraine's Finance Minister Natalie Jaresko disclosed July 3 that the government failed to get $3 billion in loans from the International Monetary Fund and World Bank this week because it has not complied with their demands for reform.

The IMF said July 2 it would release funds after Ukraine met undisclosed conditions. In a posting on Facebook, Jaresko said the Ukrainian parliament delayed action on four legal reforms that must be passed to obtain a $1.7 billion loan installment from the IMF and another $1.3 billion from the World Bank.

"This week, our country might have complied with the conditions necessary for further progress," she wrote, but none of the reforms were adopted.

Jaresco urged parliament to pass legislation safeguarding bank deposits for small savers; giving legal powers to a national anti-corruption bureau; regulating public utilities; and reforming the Naftogaz gas company.

"We call on deputies to make the adoption of these laws the first priority of the next plenary week," she said. "We cannot afford to disregard the

financial support the people of Ukraine need so much in the days of the grave economic crisis."

With reporting by TASS

Copyright (c) 2014. RFE/RL, Inc. Republished with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave NW, Ste 400, Washington DC 20036