David Lip­ton:

«Ukraine can’t pause or go back­wards»

The Ukrainian Week - - ECONOMICS - In­ter­viewed by

This April, the 2017 Spring Meet­ings of the World Bank Group and the IMF, a top an­nual in­ter­na­tional eco­nomic fo­rum, took place in Wash­ing­ton. It looked at the cur­rent trend and prospects of the world’s economies, re­gions and in­di­vid­ual coun­tries. Upon the in­vi­ta­tion from the IMF, The Ukrainian Week cor­re­spon­dent at­tended the Spring Meet­ings and spoke to the IMF First Deputy Man­ag­ing Di­rec­tor about the de­tails and prospects of the IMF’s co­op­er­a­tion with Ukraine.

Ukraine com­pleted 3 out of 11 struc­tural bench­marks from the pre­vi­ous mem­o­ran­dum with the IMF, and still re­ceived the last tranche of the loan. Why did the IMF grant it?

We al­ways try to see the big pic­ture. Ukraine is mak­ing im­por­tant strides in sta­bi­liz­ing and build­ing foun­da­tion for growth in the coun­try. It was time to go ahead. But we still want all of the other bench­marks to be im­ple­mented. We con­tinue our work with the govern­ment on some high-pri­or­ity re­forms nec­es­sary for the next re­view. If we move for­ward to­gether, Ukraine can over­come the legacy of the last 25 years and re­ally make life bet­ter for a lot of peo­ple in the coun­try.

The up­com­ing bench­marks in­clude some po­lit­i­cally sen­si­tive ones, such as pen­sion and land re­form. How would the IMF put pres­sure on the Ukrainian Govern­ment to go through these re­forms tak­ing into con­sid­er­a­tion the fact that Ukraine is look­ing at dou­ble elec­tions in 2019?

We don’t force any­one to do any­thing. The his­tory of the past 25 years in Ukraine shows that the coun­try moves for­ward when it wants to do so, and it doesn’t when it can’t find agree­ment.

The next three im­por­tant steps are pen­sion re­form, land re­form and pri­va­ti­za­tion of state en­ter­prises. These re­forms are all long over­due. Not do­ing them has im­posed costs on Ukraine year in

Newspapers in English

Newspapers from Ukraine

© PressReader. All rights reserved.