How to navigate until the end of June: the reform plan for Ukraine for the next six months has been unveiled.
An updated memorandum with the IMF is already in place. Prior to this review, all 5 milestones were achieved as required, resulting in a total of 33 completed milestones out of 50...
As I mentioned, there are new milestones for the upcoming year:
Assessment of the performance of the chairman and members of the NCSF, development of an operational and reorganization strategy, considering IOSCO principles — by the end of January 2025.
Registration of a draft law to reduce "third-party risks" (referring to businesses built on the integration of digital banking with non-banking services) — by the end of May 2025.
Invite, conduct, and publish a report assessing the independence of the NERC from the Energy Community Secretariat — by the end of October 2025...
Thus, according to the new Memorandum, the reform plan for Ukraine looks as follows:
By the end of January 2025
Amendments to the Budget Code, granting the Ministry of Finance the authority to verify that all state investment projects have undergone the necessary evaluation and selection.
Assessment of the performance of the NCSF, its management, and members.
By the end of February 2025
Approval of the methodology for assessing state investment projects.
Election of a new director for the Bureau of Economic Security (BEB).
Publication of the audit results of the NABU.
By the end of April 2025
Registration of a law on tax reporting for digital platform operators.
By the end of May 2025
Registration of a draft law to reduce "third-party risks".
By the end of June 2025
Appointment of the chairman of the State Customs Service and heads of regional customs offices.
Submission of the budget declaration in accordance with the parameters agreed with the IMF.
Additionally, I would like to remind you that by the end of December this year, we still have 6 milestones to fulfill in order to pass the next program review:
- Establish a supervisory board for Ukrenergo with independent members;
- Pass a law for the reform of the Audit Office;
- Prepare the foundations for the rehabilitation of banks;
- Introduce a risk assessment methodology in the banking sector;
- Make amendments to the Criminal Procedure Code to repeal the "Lozovoy amendments" and grant the SAP the right to request extradition;
- Create a new administrative court to replace the OASC.
If the first items are on track, the last two points may pose a challenge.
The last two were not taken into account for this review (since December is not yet over, but they will become problematic in March).
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