18:34 18.01.2018

IMF expects amendments to anti-corruption court bill, pension reform in Ukraine

IMF expects amendments to anti-corruption court bill, pension reform in Ukraine

The International Monetary Fund (IMF) says it expects that the Ukrainian authorities will amend the bill on the high anti-corruption court for its second reading and rework the bill on pension reform, IMF Director of the Communications Department Gerry Rice has said.

"The letter that we have sent to the authorities expresses the staff's concerns about inconsistency of several provisions in the draft law with Ukraine's commitments under the [IMF's Extended Fund Facility] program and the Venice Commission's recommendations. We hope that the authorities will take these concerns from the IMF staff into account and that the bill will be amended between readings in parliament," he said at a briefing in Washington, D.C., on Thursday, January 18.

In his words, the establishment of the anti-corruption court has been an essential part of the cooperation program between Ukraine and the IMF.

He added that the Fund also expected changes in the Ukrainian pension reform.

"The pension law introduces some important provisions to modernize the pension system in Ukraine but also has some shortcomings that undermine incentives for people to work longer and their contribution to the system, and it doesn't fully ensure sustainable pension system, so we think a bit more work needs to be done there," he added.

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