Page 50 - UKRRptJune18

Recently, the IMF said that the establishing of an independent anti-corruption court is a "crucial" condition for a new tranche.
"We are still looking to complete the fourth review of the IMF's supported programme for Ukraine, and as we've signalled before, we think more progress needs to be made on a number of fronts before we can conclude that fourth review," the lender's communications head Gerry Rice told journalists on May 18. [These] issues include the energy sector... fiscal policy. An approval of the appropriate law setting up a strong and independent anti-corruption court; and on the latter, it's crucial."
The NBU's board believes that, conditional on the materialisation of baseline scenario assumptions the current monetary stance is tight enough to reduce inflation over the medium term.
However, if risks to lower inflation and macrofinancial stability rise, including due to a lack of progress in structural reforms and access to official financing, the NBU "may hike the key policy rate to the level sufficient to drive inflation back to the established medium-term targets".
8.3 Stock market
8.3.1 Equity market dynamics
Ukrainian parliament, the Verkhovna Rada has passed a law that gives foreign investors easier access to the local capital markets by introducing nominee accounts , local media reported on May 15.
Specifically, the law simplifies access of non-residents to Ukrainian securities, who will be able to invest via international custodians that will open nominal holder accounts in Ukraine. Currently, non-residents can only invest by opening individual securities accounts with Ukrainian custodians.
50 UKRAINE Country Report June 2018 www.intellinews.com