Unpassed Ukrainian Laws Could Disrupt Cooperation with IMF, World Bank

© RIA Novosti . Alexandr Maksimenko / Go to the mediabankUkrainian Prime Minister Arseny Yatsenyuk
Ukrainian Prime Minister Arseny Yatsenyuk - Sputnik International
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Legislation not passed by Ukraine’s parliament could disrupt credit programs from the International Monetary Fund and the World Bank, Ukrainian Prime Minister Arseniy Yatsenyuk said Monday.

KIEV, July 28 (RIA Novosti) - Legislation not passed by Ukraine’s parliament could disrupt credit programs from the International Monetary Fund and the World Bank, Ukrainian Prime Minister Arseniy Yatsenyuk said Monday.

"This is a disruption of our program with the International Monetary Fund and the World Bank. I spoke with the World Bank’s director and the International Monetary Fund and that’s why I'd like to say the following: The government will reintroduce to parliament all of the legislation that the country needs," said Yatsenyuk, whose resignation last week still must be approved by the country’s parliament.

According to Yatsenyuk, the laws that the parliament did not pass, including a national budget, tax reforms, and a law on the country’s transfer of 49 percent of its gas transit system to foreign companies, will be reintroduced to for review on July 31.

Kiev received the first IMF loan tranche of $3.16 billion in early May after the fund approved a $17 billion loan to Ukraine in the form of a two-year stabilization program. Ukraine is expected to receive a total of $27 billion from international donors such as the IMF, the World Bank, the United States and the European Union. From this sum about $14 billion is to come this year.

The IMF spokesperson stated on July 25 that Managing Director of the International Monetary Fund (IMF) Christine Lagarde urged Ukrainian leadership to follow the terms and conditions of country’s loan program.

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