11:44 04.07.2015

Delay in adoption of four bills by Rada threatens $3 bln grant from IMF, World Bank – finance ministry

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Delay in adoption of four bills by Rada threatens $3 bln grant from IMF, World Bank – finance ministry

The Ukrainian parliament is delaying the adoption of four draft laws, which threatens a $3 billion grant of international financial aid from the International Monetary Fund (IMF) and the World Bank, the Finance Ministry has reported.

"The parliament should vote for amendments to the bill on utilities services (No. 2029a), on lifting the moratorium on the forced sale of property of Naftogaz Ukraine's debtors (No. 2956), and on the improvement of the deposit guarantee systems and removal of insolvent banks from the market (No. 2045a)," Deputy Finance Minister for European Integration Artem Shevalev wrote on his Facebook page on Friday.

"Draft laws Nos. 2029a, 2956, 2045a were left non-adopted. They are the preliminary June conditions for receiving the second tranche under the IMF program and budget credit lines from the World Bank and funds affiliated with them. If the bills are not passed on Friday, we would have minus $3 billion," the official stated.

At the same time, Finance Minister Natalie Jaresko wrote on her Facebook page that the parliament should also adopt the draft law needed to unblock funding from the IMF – No. 2873 with respect to clarifying the jurisdiction of the National Anti-Corruption Bureau.

She stated that along with $1.7 billion of the second tranche from the IMF this also concerns two credits of $800 million and $500 million from the World Bank, and draft laws Nos. 2029a and 2956 must be adopted for the credits to be received.

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