"The law on pension reform has already been passed, but we are still examining it to see how much the law corresponds to the benchmarks stipulated in the program," Ljungman said at a forum in Kyiv on November 3.
According to the official, to get through the fourth review of the EFF and receive the fifth disbursement, Ukraine must ensure the pension system sustainability as a result of its reform, adopt legislation on privatization, change gas prices according to previously agreed terms, and create an anti-corruption court.
Read alsoIMF review of Ukraine pension reform is ongoing: IMF officialAs UNIAN reported earlier, the Verkhovna Rada of Ukraine on October 3 passed a pension reform bill, which introduces requirements for the minimum pension insurance record for retirement and provides for an increase in retirement benefits to be paid to 9 million pensioners in the amount of UAH 200 to UAH 1,000 each per month starting from October. The program of cooperation with the IMF provides for the adoption of pension legislation, which will ensure the deficit-free pension fund in future.
In March 2015, the IMF approved a four-year EFF loan program for Ukraine under which $17.5 billion will be disbursed. Ukraine has already received four disbursements from the Fund to the tune of $8.7 billion.
