First Deputy Prime Minister, Minister of Economic Development and Trade of Ukraine Stepan Kubiv states Ukraine has implemented all the necessary commitments to obtain the next tranche from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) program.

"Ukraine has done the homework on the obligations to the International Monetary Fund we promised in the signed memorandum [on economic and financial policies when got the third tranche in September 2016]," he said at a briefing in Kyiv.

Asked about pension and land reforms, commitments on which are also contained in the memorandum, Kubiv noted Prime Minister Volodymyr Groysman and Minister of Social Policy Andriy Reva have declared the operation card of the pension reform.

"We have been talking for 25 years, but we have to make certain unpopular real steps. Passing the budget for 2017, we see the first steps as the start of the pension reform, which are incorporated in the macro-balanced budget, reducing the gap in the pension fund. The reform will be presented at a government meeting," the first deputy premier said.

With regard to the introduction of the land market in Ukraine, he said the government, the parliamentary committee and the Verkhovna Rada are jointly working on the issue.

"There is no land market in Ukraine, and today we don't need to make the land market just for the process," Kubiv said.