Memorandum Of Economic And Financial Policies In New IMF Loan Program For 2018-2020 Provides No Date For Launch Of Land Market

The date of launch of a land market is not stated in the Memorandum on Economic and Financial Policies in the new IMF loan program for 2018-2020.

This is stated in Ukraine’s letter of intent to the International Monetary Fund, the Ukrainian News Agency reports.

According to the letter, Ukraine will continue to prepare for creation of a transparent market of agricultural land.

The latter states that a working group made up of representatives of the relevant ministries has prepared a draft law on sale of land in cooperation with the World Bank with the aim of allowing the sale of land subject to adequate safeguards.

In addition, according to the letter, a campaign has already been launched to inform the public about the benefits of such a reform.

As Ukrainian News Agency earlier reported, on December 20 the International Monetary Fund published the text of the Memorandum on Economic and Financial Policies under its new loan program for 2018-2020.

Prime Minister Volodymyr Groysman recently said that the moratorium on sale of agricultural land would remain in effect until adoption of a law on sale of land regardless of the parliament’s decision on extension of the moratorium.

The National Agrarian Council has stated that a number of parliamentarians have registered the draft law No. 9355-5 on extension of the moratorium on sale of agricultural land until January 1, 2020, at its initiative.

The Constitutional Court recently refused to consider the constitutionality of the moratorium on sale of agricultural land.

The decision of the European Court of Human Rights (ECHR) that declared Ukraine’s moratorium on sale of agricultural land a violation of human rights entered into force on August 22.

President Petro Poroshenko has promised to secure the lifting of the moratorium on the sale of agricultural land.

The Constitutional Court also refused to open constitutional proceedings in a case involving the moratorium on sale of agricultural land in February.