IMF states the need for Ukraine to advance reforms under the new program, mentions VAT
Kyiv • UNN
Gavin Gray, the IMF Mission Chief to Ukraine, stated that Ukraine has agreed to adopt a package of tax measures by the end of March. Trevor Lessard, the Deputy Mission Chief, noted that the IMF is monitoring the bond situation.
It is important for the Ukrainian authorities to implement structural reforms agreed upon within the new $8.1 billion loan package approved by the IMF Executive Board on Thursday, the head of the International Monetary Fund mission to Ukraine said on Friday, UNN reports with reference to Reuters.
Details
Gavin Gray told reporters that "Ukraine has agreed to adopt a package of tax measures related to the value-added tax (VAT) threshold by the end of March." "The sooner these changes come into force, the better," Gray said.
Deputy Mission Chief Trevor Lessard said the IMF was closely monitoring reports that some of Ukraine's dollar bondholders, who had agreed to a previous restructuring, were seeking ways to obtain better terms, concerned that the December restructuring would put them at a disadvantage.
The current loan does not provide for additional debt service payments, but the IMF will change its approach if necessary, Lessard said.