IMF mission starts work in Ukraine

The National Securities and Stock Market Commission of Ukraine (NSSMC) says a technical assistance mission of the International Monetary Fund (IMF) has started its work in Ukraine.

During its working visit (May 16-22), the mission is expected to visit the NSSMC to study the state of the market for asset management in Ukraine.

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As reported, the mission will include experts from the IMF Monetary and Capital Markets Department, Eija Holttinen and Richard Stobo.

IMF envoys will examine the relative legislative and normative base, as well as hold a number of meetings with representatives of the market for asset management, self-regulatory organizations and state authorities.

The NSSMC also said that as the results of three technical missions (2015-2016), the commission's powers had been extended. Moreover, self-financing, as well as methods to combat abuses in the stock market were introduced.

As UNIAN reported earlier, in March 2015, the IMF approved a four-year EEF loan program for Ukraine under which $17.5 billion will be disbursed. Under the program, Ukraine has received only four disbursements from the Fund to the tune of $8.7 billion due to the slow implementation of the agreed reforms. The program is expiring in March 2019. However, the National Bank of Ukraine and the Finance Ministry expect to receive $1.9 billion from the IMF in 2018.

The key requirements of the IMF to continue cooperation include passing a law on setting up an independent anti-corruption court consistent with the recommendations of the Venice Commission, as well as bringing gas prices to import parity and providing a mechanism for their automatic regulation, with a change in the price conjuncture.