President Petro Poroshenko`s anti-corruption court law does not fully meet the requirements of the Venice Commission as well as the recommendations of the IMF. If the law is adopted in its present form, Ukraine may not receive the next tranche of the IMF, which will hit the national currency and investment attractiveness, CASE Ukraine`s Executive Director Dmytro Boyarchuk commented to the Radio Svoboda.
Ukraine persistently creates conditions when the IMF will not be able to give loans to the country, the economist said. He recalls that the condition for the creation of an anti-corruption court was documented in the Memorandum of Economic and Financial Policies between Ukraine and the IMF.
‘Officials who receive funding distribute it. However, debts still lie on the shoulders of people. Therefore, there is such a rather severe requirement for the Ukrainian government to fix this situation’.
The expert reminds that, in 2017, thanks to the IMF tranche, Ukraine was able to place three-billion-dollar Eurobonds. He said that happened because investors appeared to the International Monetary Fund.
‘Ukraine is not present on the investor’s map. However, there are some investors who consider Ukraine, but for most this is a problematic country which is better not to deal with’.
Without additional tranches, according to Boyarchuk’s forecast, Ukraine’s economic situation in 2018 and 2019 will deteriorate.