Finance Ministry calls on parliament to adopt laws for cooperation with IMF, EU

The Ukrainian Finance Ministry has called on the Verkhovna Rada to approve a package of bills that will open access to further macro-financial assistance from the EU and help continue cooperation with the IMF, the ministry's press service has reported on its Facebook page.
"This week, the Verkhovna Rada will have an opportunity to adopt a package of bills that will create a modern European customs service in Ukraine, more effectively counteract money laundering and prevent tax evasion, protect investors from abuses in capital markets, reform the non-banking financial sector and ensure automatic access by the National Agency for the Prevention of Corruption to the registers necessary for the effective realization of its powers. The approval of these bills will be a significant step by Ukraine on its road to European integration, open access to further macro-financial assistance from the European Union, help continue cooperation with the International Monetary Fund, enable a financial partnership with the State of Qatar, serve as a powerful signal for other potential investors and, as a result, will contribute to maintaining macroeconomic stability in Ukraine," reads the report.

According to the report, the Finance Ministry urged parliamentarians to adopt the following bills: No. 4773 "On the introduction of amendments to the Customs Code of Ukraine," No. 9532 "On the regime of joint transit," No. 9417 "On preventing and counteracting the legalization (laundering) of the proceeds from crime, terrorist financing and financing of the proliferation of weapons of mass destruction," No. 6303-d "On the introduction of amendments to certain legislative acts of Ukraine on the protection of investors against abuses in the capital markets," No. 0202 "On the ratification of the agreement between the Government of Ukraine and the Government of the State of Qatar on the avoidance of double taxation and prevention of tax evasion in relation to income taxes and the protocol to it," No. 7276 "On the introduction of amendments to certain laws of Ukraine on ensuring proper access for the National Agency for the Prevention of Corruption to the information necessary for the exercise of its powers," No. 2413a "On the introduction of amendments to certain legislative acts of Ukraine concerning the consolidation of functions on the state regulation of financial services markets."

In addition, the ministry insists on the ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting and the ratification of the agreement with the State of Qatar on the promotion and protection of investments.

The Finance Ministry is convinced that the adoption of these bills will expand the opportunities for economic growth in Ukraine.

This year, Ukraine intends to receive two IMF tranches worth $2.6 billion (one in May and another in September). Ukraine expects to receive EUR 500 million in macro-financial assistance from the EU in late March or in early April. The total amount of external borrowing, according to the ministry's forecasts for 2019, is expected to reach about $4 billion.