Many provisions of IMF memo discussed since 2008 – Danyliuk

"Everything we are now discussing has already been included in 2008 and 2009 programs. But the problem back then was that they took loads of money, but no systemic changes ensued because they halted cooperation. The economy did not change. Nothing happened. That's why we have such salaries and such pensions today. The worst thing you can do is to take loans and do nothing," the minister said.

Read alsoIMF Memo has no obligation to raise retirement age – GroysmanHe recalled that the meeting of the IMF Executive Board would take place on March 20, where the issue of allocating the fourth tranche of the loan to Ukraine would be considered. "This is good news, because Ukraine has never received four tranches within one program. Often it was like that: they would agree on something, and then the Ukrainian side would not fulfill obligations. The fact that we are to receive the fourth tranche means that Ukraine and the IMF keep their promises, and we are moving toward reform. The very fact that the IMF trust us is a positive signal about what the government is doing. This is a signal for investors," Danyliuk said.

He also noted that one of the provisions in the Memo regarded the continuation of the reforms that had been planned earlier. "For example, we are talking about creating a fair pension system. The next direction is anti-corruption policy. An anti-corruption court is planned to be created by the end of this year," Danyliuk said. "What is planned with the land reform? We are really planning to launch land reform this year. For what? For the agrarian sector to gain momentum, to attract investment. So that people have the right to dispose of their land. It is very important now to regulate how the land market will work. And we will discuss this."

Read alsoIMF confirms date of Executive Board meeting on Ukrainian issueAccording to Danyliuk, the Memo will have provisions on privatization, the reform of the State Fiscal Service, and the creation of the Financial Investigation Service. "Now is the time to focus on this," Danyliuk said.

As UNIAN reported earlier, in September 2016, after more than a year's break, Ukraine has resumed cooperation with the IMF under the four-year Extended Fund Facility (EFF) worth $17.5 billion. Under this program, Ukraine has already received three loan tranches, totaling $7.62 billion. Ukraine expected to receive the fourth $1 billion tranche by the end of 2016, having fulfilled the key requirements, namely the adoption of the budget for 2017 and nationalization of the country's largest bank, PrivatBank. At the same time, the meeting of the IMF Executive Board on the Ukrainian issue was being delayed for a long period of time.

In early March, Ukraine agreed with the IMF the updated memorandum. As expected, the Executive Board meeting will take place in the second half of March.