Ukraine, Saturday 01 April 2023 11:03
The Ukrainian authorities in a letter of intent to the leadership of the IMF (Memorandum) pledged to reform the system of pensions and social security.
“We will undertake significant changes in the pension and social security systems after comprehensive reforms in social policy,” the document says.
The reforms will include improved targeting and means testing of social assistance in line with the concept of social policy.
“As defense spending cuts, we will seek to direct resources towards recovery and reconstruction spending, as well as a social safety net to meet the post-war needs of society and vulnerable segments of the population,” the Memorandum notes.
The memorandum with the IMF was signed by Ukrainian President Volodymyr Zelensky, Prime Minister Denys Shmygal, Finance Minister Serhiy Marchenko and NBU Governor Andriy Pyshny. It contains voluntary commitments by the country’s authorities to take certain steps.
As RBC-Ukraine reported, the IMF approved on March 31 a four-year Extended Financing Program (EFF) for Ukraine worth $15.6 billion.
Recall that the Ukrainian authorities in a letter of intent to the leadership of the IMF (Memorandum) undertook to harmonize tax legislation with the norms of the European Union.
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