Date: 5 months ago   Category: Politics

The new memorandum of Ukraine with the IMF is published


For the period of action of the new program of Fund for 2018-2020 introduction of the second level of the pension system will be suspended. The International Monetary Fund published the text of the Memorandum of economic and financial policy within the new stand by program for Ukraine. Details of the agreement were published by the Ministry of Finance on Thursday, December 20. The memorandum contains statement of policy and strategy to which Ukraine during in 2018-2020 and also the concrete steps necessary for successful passing of viewings and receiving the following trenches plans to adhere. The document contains the areas of work of Ukraine in spheres of monetary and credit and currency and course policy, budgetary policy and also policy in power and financial sectors, management, management of the state enterprises and business climate and also 8 structural beacons. Implementation of provisions of the Memorandum will allow until the end of action of the program to attract 3.9 billion dollars of the financial support from the IMF which will go to reserves of National bank. Key paragraphs of the memorandum: monetary policy; the independent NBU will continue to adhere to policy of a flexible exchange rate; inflation will be 7% from December, 2018 to December, 2019, and in 2020 - 5%/-1%. For this purpose the Ministry of Finance has to submit to the NBU the daily and monthly forecast of cash flows. Ukraine will adhere to approach of fiscal stability in the medium term, in particular: deficiency: 2.5% in 2018, 2.25% in 2019. At the beginning of 2019 - cancellation of restriction for the salaries from which pay ERU. During the program there will be no tax amnesty, but this restriction does not deny a possibility of holding in the future a campaign for zero declaring of assets of natural persons, on condition of prior approval of its conditions and justification is more whole with experts of the IMF. Will not enter also new tax benefits, will not reduce income tax rate of the enterprises. Also introduction of the second level of the pension system is suspended. At the same time Ukraine will continue dialogue with experts of the IMF on search of a possibility of introduction of a tax on the withdrawn capital in the form of the fiscal and neutral, balanced and stable model of taxation of the shared profit. Superplanned budget revenues will be directed to decrease in a debt According to obligations which Ukraine undertook within the Memorandum, till May, 2019 in the Supreme anti-corruption court not less than 35 judges have to be appointed, and until the end of July, 2019 independent audit of National anti-corruption bureau has to be booked. According to the Memorandum, until the end of March, 2019 Ukraine has to make amendments to the legislation to the sphere of counteraction to washing of means and fight against terrorism financing. As it was reported, on December 18 the board of directors of the IMF approved the new program of financing for Ukraine for 3.9 billion dollars. The first tranche in 1.4 billion has to be provided "immediately". News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/ko channel

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