The IMF Executive Board has set out its key priorities and goals in the upcoming year Alfred Kammer, Deputy Director of the IMF’s SPR Department told reporters Thursday, July 20 in Washington, DC.
“In line with the Fund’s strategic priorities this work program focuses on three areas that are relevant for our membership: how to support measures to sustain the recovery, lift productivity and increase resilience; How to promote sustainable policies to support a more sustainable and inclusive global economy; And how to facilitate multilateral solutions to meet global challenges,” Kammer said.
The IMF will make anti-corruption measures the cornerstone of its priorities at at all levels of the Fund’s work Kammer said.
“As you know tackling corruption is a priority for the Fund. It effects economic efficiency, inequality and macro-stability and frankly, tackling corruption is the right thing to do,” said Kammer laying out the timeline of key reports on the issue in coming months.
Land reform remains an important condition under the IMF program with Ukraine and a fourth review is possible once necessary policies are implemented, IMF spokesman William Murray told reporters.
“Land reform remains an important condition under the program but given the need to design the reforms well and to reach consensus on key steps ahead there was a need to reset its timing to later in the year,” said Murray.
The Ukrainian government has a $17.5 billion financial support program in place with the IMF to back reform measures by the government. The IMF has stated that it hopes to see the pace of reform pick up.
“In the mean-time it is important that the authorities move ahead in the coming months with the necessary preparatory work and the timely implementation of an appropriate land reform that has potential to transform Ukraine’s agricultural sector,” he told reporters.