World · Europe · 1 hr ago
Ukraine parliament to vote on reforms tied to $4.3 billion in funding
Ukraine’s Parliament is set to vote on 16 bills this week, with key votes scheduled through Oct.
14.
The package is intended to meet conditions for US$4.3 billion in EU and IMF financing.
The proposed laws cover areas including labour standards, anti-money laundering, tax loopholes and taxes on online platforms and personal shipping.
Western donors have pressed Kyiv to crack down on graft and improve spending transparency after corruption scandals involving prominent politicians.
One dispute concerns whether lawmakers and their families should face stricter financial monitoring, and failure to reverse a recent easing of those rules could derail funding.
Ukraine’s government has previously tried to soften some donor demands, but now faces pressure to pass the bills.
The funding matters as the country faces a projected budget shortfall of more than US$30 billion in 2027, and the EU says economic reforms must come before it helps fill the gap.
Ukraine’s Parliament is due to vote on reforms tied to US$4.3 billion in funding from the European Union and International Monetary Fund.
The legislation covers areas including labour standards and anti-money laundering rules, with key votes scheduled through Oct. 14.
The funding is linked to reforms demanded by foreign backers, who have pressed Ukraine to tackle graft and improve spending transparency.
A contentious issue is whether to reverse an amendment that eased banks’ treatment of politically exposed persons.
The proposed laws also include tax changes that are unpopular with some Ukrainians.
- Who
- Ukraine’s Parliament is due to vote on the bills.
- What
- Lawmakers will consider reforms linked to US$4.3 billion in EU and IMF funding.
- When
- This week, with key votes scheduled through Oct. 14.
- Where
- Ukraine.
- Why
- The foreign backers have tied funding to reforms, including measures to address graft and improve transparency.
International donors
Ukrainian lawmakers seeking to retain eased PEP rules
Politically exposed persons rules
International donors
Donors oppose relaxing the rules and want the reversal of a recent amendment that eased banks’ treatment of PEPs.
Ukrainian lawmakers seeking to retain eased PEP rules
Many lawmakers and their families consider PEP status burdensome because it brings additional financial checks.
Funding consequences
International donors
Two people familiar with the matter said failure to reverse the amendment could derail efforts to secure further IMF and EU funding.
Ukrainian lawmakers seeking to retain eased PEP rules
Some lawmakers oppose the stricter rules; the article says many have demanded the central bank governor’s dismissal, believing he supports maintaining them.
Western allies made a series of requirements of Ukraine that underpin the proposed package of laws.
The EU refused Kyiv’s requests to speed up loan payments for military costs and demanded further reforms.
Ukraine’s Parliament is due to vote on a series of laws tied to funding.
The legislation most relevant to unlocking the funding is scheduled to face votes.
- Funding at stake
- US$4.3 billion
- Bills in package
- 16
- Vote schedule
- Key legislation faces votes through Oct. 14
- Potential 2027 budget shortfall
- More than US$30 billion, according to the IMF
- Last parliamentary election
- 2019
What people are saying
like bad students the night before a test
Sources
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