Ukraine Pension Reform Changes Worry World Bank, IMF
The World Bank and the International Monetary Fund are concerned about amendments to pending pension reform legislation needed to unlock further funding under a $17.5 billion (£12.92 billion) IMF programme, the World Bank’s Ukraine director said on Friday.
A draft law to put the buckling pension system on a sustainable footing passed a first reading in parliament in July, but the bill has been modified with scores of amendments ahead of a second round of voting.
“The revised draft law presented at the start of this week has been amended in a way that provokes significant concern at both the World Bank and the IMF,” the World Bank’s Satu Kahkonen was quoted as saying by news agency Interfax Ukraine.
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