The International Monetary Fund (IMF) anticipates the enactment of laws to repeal the so-called Lozovoy amendments and to establish a Higher Administrative Court (HAC) to replace the abolished Kyiv District Administrative Court, which are structural benchmarks with deadlines that expired in December 2024, stated Daniil Getmantsev, head of the parliamentary committee on financial, tax, and customs policy.
"They expect that the bills will be passed. And yes, failure to do so jeopardizes the tranche," he commented to the Interfax-Ukraine agency.
The discussion revolves around the adoption of bills No. 12367 and No. 12368, which were registered in the Verkhovna Rada in December of last year; however, neither has yet been approved even in principle.
Yaroslav Zheleznyak, deputy head of the finance committee, added that the fund will not be able to extend the deadlines for these benchmarks since the timelines have already passed. He also noted that non-compliance poses a risk to the Extended Fund Facility (EFF) Program.
As reported, the IMF mission began its work in Kyiv on February 20 for the seventh review of the EFF. It will continue in the coming days in Kyiv and Warsaw. If the mission concludes successfully, the IMF Board of Directors may allocate the 8th tranche to Ukraine under the program amounting to $917.5 million by the end of March.
The previous, sixth review of the EFF program, which was initiated in March 2023, was completed closer to the end of December 2024. Following its results, the seventh tranche of $1.1 billion was allocated, bringing the total disbursements to $9.8 billion out of a total program volume of $15.6 billion.
Overall, the updated program for this year provides for four quarterly reviews, similar to 2024. The amounts for the next three tranches in 2025 are $809.6 million, $539.8 million, and $445.3 million, respectively.