Today a cluster of Ukrainian employers’ alliances have rallied up to address Verkhovna Rada with a demand for urgently passing the bills required by International Monetary Fund.
In particular they focus on the Covid-19 implied problems impacting the country’s economy too bad, and noting that:
The coronavirus threat shows much more menace for developing economies as Ukraine is – both in the health protection and economy sector. International capital markets have closed for those states, and since 21 January $80Bn have been reportedly drawn out of developing countries.
And without the IMF program the forecast is fearsome: multiplied economy recession, quick waste of FX reserves, higher inflation and substantial growth of unemployment.
Since the situation grows harder, the IMF and other IFIs remain the only source of funding for the nearest future, so any calls for Ukraine’s default should be ignored as the long-term effect of such a decision is too dangerous.
We are the eight business associations representing the largest employers of the country and paying most of the taxes to the state budget are common with the thought to address each member of the parliament with the request for resolutely and promptly acting in order to pass in time all the legislature necessary for obtaining means from IMF by the EFF program, as well as the crisis funds purposed for support of Ukraine in the struggle against Covid-19.
American Chamber of Commerce in Ukraine
Federation of Employers of Ukraine
Union of Ukrainian Entrepreneurs
European Business Association
Business100
Ukrainian Agribusiness Club
IT Ukraine Association
CEO Club Ukraine
https://itukraine.org.ua/en/joint-statement-of-the-it-industry-united-by-the-american-chamber-of-commerce-in-ukraine,-the-european-business-association,-the-it-ukraine-association-and-the-union-of-ukrainian-entrepreneur.html