IMF Warns Proposed Legislation in Ukraine Threatens Reforms

Fund says seven bills up for review could undermine success of $40 billion bailout package

Ukrainian President Petro Poroshenko says he is prepared to veto a foreign-exchange bill that some say could collapse the country’s banking system.

Photo: NurPhoto/Zuma Press
By Laura Mills

KIEV, Ukraine—The International Monetary Fund warned Sunday that recently proposed legislation in Ukraine threatens to undermine reforms critical to the success of a $40 billion bailout package for the country.

Poul Thomsen, director of the IMF’s European department, said in a statement that seven pieces of legislation up for review in Ukraine’s parliament next week could roll back important reforms on pensions and energy tariffs that Ukrainian lawmakers passed earlier this year.

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