IMF debt peak payments — in March and September.
In 2022, Ukraine pledged to pay $2.37 billion (UAH 65.7 billion) to the International Monetary Fund. For this money, it would be possible to pay 16.4 million average pensions in Ukraine (UAH 4,000 each, according to the PFC). At the same time, Kiev expects to receive a smaller amount from the Fund this year — up to $2.2 billion, reports the Chronicle.info with reference to Obozrevatel.
Peak payments on debts to the IMF traditionally await Ukraine < strong>in March and September. During these 2 months, the country will give the lender $1.35 billion, according to data on the IMF official website.
Payments to the IMF 2022
Infogram
The easiest «easy» the months in which payments are not provided at all are January and July. The first payments to the IMF should take place already on February 1, for a total amount of about $61 million.
So far The IMF has not approved a single tranche for Ukraine in 2022. However, the stand-by financing program, which was supposed to end in 2021, has been extended until June 2022. Ukraine has already received $2.8 billion under this program. In general, the agreement is designed for a $5 billion loan.
Thus, in 2022, Ukraine could theoretically receive another $2.2 billion. However, this can only be done if fast fulfillment of the conditions of the Fund, with which Kiev has repeatedly had problems.
What Ukraine promised the IMF
At the end of November 2021, during the next revision of the IMF program, the Cabinet of Ministers agreed not to carry out a sharp increase in the minimum wage. Therefore, in 2022, the minimum wage will increase by only 3%, with a projected price increase of 6.2%.
In addition, the updated memorandum with the Fund provides an increase in utility tariffs – the authorities have pledged to determine gas and heating tariffs based on market value from May 1, 2022.
At the same time, the system of subsidies should be maintained.
«We will continue our efforts to prevent the recurrence of quasi-fiscal deficits in the natural gas sector by setting tariffs above cost, while protecting vulnerable segments of the population»,
, the document says.
A hand utility bills will be fined.
«We will develop appropriate tools for DH to ensure collection of payments from households (including through increased fines and simplified law enforcement)»
, the memorandum says.
The document also contains other obligations of Ukraine, for example:
- to counter the coronavirus pandemic, incl. with free vaccination of the population;
- do not budget a deficit of more than 3.5% of GDP (already implemented);
- adopt the plan < strong>privatization of PrivatBank and Oschadbank;
- change the law on the Specialized Anti-Corruption Prosecutor's Office and report on the verification of current members of the High Council of Justice.