The National Bank assumes that this year the International Monetary Fund (IMF) will not allocate Ukraine the next tranche, amounting to 1.3 bln, due to failure to adopt necessary laws by the Verkhovna Rada, NBU Chairwoman Valeria Gontareva said to Reuters, Ukrainian news reports.

“There are risks that we will fail to obtain it (the next tranche) this year”, Gontareva said.

According to her, the unwillingness of people’s deputies to vote for draft laws, stipulating the implementation of key reforms under the Memorandum of Cooperation with IMF is the reason for it.  

In particular, it is referred to the pension reform and introduction of agricultural land market.

“It was the obligation of the parliament to adopt these amendments and budget”, NBU Chairwoman emphasized.

Gontareva noted that NBU fulfills its part of the Program of Cooperation with IMF.

She added that if Ukraine does not obtain USD 1.3 bln from IMF and additional USD 700 mln from EU, then the international reserves of the National Bank will not increase higher than the current level (currently – USD 15.5 bln).

As reported, in September, IMF approved the allocation of 1 billion tranche to Ukraine.

In the updated memorandum of cooperation, Ukraine undertook to implement land reform and adopt the law on the gradual raise of pension age of the citizens.

In early October, the Verkhovna Rada prolonged the moratorium on the transfer of agricultural lands for the period of 1 year until January 1, 2018.

Previously the National bank expected the provision of the next IMF tranche, amounting to USD 1.3 bln, until the end of this year.

On November 3, the mission of the International Monetary Fund arrived in Ukraine and started working.