REUTERS
Also, the key lender traditionally wants to see a balanced budget policy and efforts to tackle corruption.
A new stand-by arrangement the International Monetary Fund has approved for Ukraine requires continued reform of the tax and customs services, including the creation of single legal entities on the basis of the said agencies, says Finance Minister Serhiy Marchenko.
"A number of structural reforms are envisaged. In particular, customs and tax reform will continue in terms of creating single legal entities. Also, the 'immunity' of the banking system needs to be strengthened in terms of operations with non-performing loans, as well as the institutional capacity of the Individual Deposit Guarantee Fund," Marchenko told a Kyiv briefing Wednesday.
He noted that certain packages of measures have traditionally been preserved in the latest SBA, including steps against corruption and money laundering.
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"The IMF pays great attention to these blocs ... Also, traditionally, the IMF wants to see a balanced budget policy. It has been preserved, and the Fund's decision ensures that the 2020 budget is balanced and provided with sources of financing," the minister added.
As UNIAN reported earlier, the IMF Executive Board approved an 18-month stand-by arrangement for Ukraine worth the equivalent of 3.6 billion SDR (about $5 billion), aimed at helping Ukraine overcome the consequences of the COVID-19 pandemic.
The first $2.1 billion tranche is expected to be received in the coming days.