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IMF Says Ukraine Needs To Move On Privatization


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The International Monetary Fund’s representative in Ukraine, responsible for the $17.5 billion aid package authorized for the former Soviet nation, says it is time for Kyiv to privatize state-owned more companies to show ‘political will.’

“They have not sold any companies in the past three years so it’s time to show political will and bring some state-owned enterprises to sale,” Ron van Rooden said, speaking at a conference in London, reported Reuters.

Regarding the other critical issue, land reform, van Rooden said the process can wait until more study is completed.

“We think a bit more time and discussion is needed to come up with (a solution) on how to proceed.”

Ukraine is still gripped by corruption and favoritism that has crippled its economy for decades. The IMF is attempting to hold the aid package as the carrot and walking away from Ukraine as it battles pro-Russian separatists in the east as the stick.

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