11:13 26.09.2017

Social Policy Ministry passes its proposals on disputable norms of pension reform to World Bank, IMF - Reva

Social Policy Ministry passes its proposals on disputable norms of pension reform to World Bank, IMF - Reva

The Ukrainian Ministry of Social Policy has submitted proposals regarding the norms of pension reform, which raised doubts among international partners, to the World Bank and the International Monetary Fund (IMF).

"We've submitted our proposals and are waiting for a feedback," Minister of Social Policy Andriy Reva told Interfax-Ukraine, asked about a meeting with the World Bank representatives.

According to him, at present negotiations are under way regarding disputable issues, and it would be premature to disclose the proposals the Ukrainian side has made. Reva noted that in view of absence of the IMF mission in Ukraine, negotiations about the controversial issues that concern both sides are being held with the World Bank.

As reported, the World Bank and the IMF in a joint letter to the government of Ukraine expressed their concerns about amendments to the draft law on pension reform (No. 6614) during its preparation for second reading, World Bank Country Director for Ukraine, Belarus and Moldova Satu Kahkonen said. In particular, the matter concerns payment of temporary assistance to non-working people who reached the age of 60 without the necessary length of pension insurance, indexation of pensions in 2018-2020, and then automatically according to the formula.

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