28 October 2016

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Finance Minister: New IMF tranche depends on full operation of e-declaration

Ukrainian Finance Minister Oleksandr Danylyuk has said problems with the launch of the electronic declaration of civil servants' income in Ukraine pose a threat to the disbursement of the third tranche of the International Monetary Fund (IMF) loan to Ukraine, according to the business news portal Epravda.

Photo from UNIAN
Danylyuk insists the e-declaration system must begin operations in full from September 1 / Photo from UNIAN

"We are working with our international partners, but not on formal grounds, which means real qualitative change rather than doubtful half measures. The electronic [assets declaration] system is a key element in the fight against corruption. It needs to function fully. The disbursement of the third [IMF] tranche is under threat without this," Danylyuk told in an interview.

Unsecured e-declarationFurther, without the IMF, Ukraine will also be unable to get a US$1 billion loan guarantee from the United States, a EUR 1.2 billion from the EU macro-financial support and loans for the purchase of gas from its European partners.

According to Danylyuk, the e-declaration system must begin operations in full capacity from September 1.

"Now we need to join hands and launch the complete e-declaration system as quickly as possible. If the system is 100% functional from September 1 and there are no problems, we can expect the disbursement as early as in September," he said.

As UNIAN reported earlier, the Ukraine issue has not been incorporated in the agenda of the IMF's Executive Board until the end of August, although the fund will consider cooperation with Jordan, Equatorial Guinea and Serbia.

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