Ukraine's Cabinet fails to prepare 44 acts for EU funding

Filed 52m ago · Via NV · The Buffoon Desk

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News of Sorrow

Kevin MacLeod · incompetech.com · CC BY 4.0

Photo: DFID - UK Department for International Development · CC BY 2.0 · via Wikimedia Commons

Ukraine's Cabinet of Ministers has failed to prepare and adopt 44 legal and regulatory acts tied to 10.6 billion euros in financing, Prime Minister Sergii Koretskyi told the Servant of the People faction, according to MP Olha Vasylevska-Smahliuk. Another 2 billion euros hinges on laws parliament already passed that the president simply hasn't signed, and 17 more draft laws the government hasn't even written cover a further 5.5 billion euros.

Altogether Ukraine faces a shortfall of about 49.5 billion euros: 26 billion euros already promised but undelivered, plus 23.5 billion euros with no confirmed funding source at all. The Ukraine Facility and the EU's broader loan program require 25 reforms and key steps before Kyiv sees more than 10 billion euros in assistance, and the EU has separately given Zelenskyy a four-week deadline on one judicial condition or risk losing $290 million.

The full dispatch is available from the source below.

✒ FROM THE EDITORIAL DESK

It is a peculiar kind of financial crisis where the missing money is sitting behind a stack of unsigned paperwork rather than an empty vault. Partners keep extending deadlines and approving new tranches while the government explains, faction meeting by faction meeting, why the homework isn't done. At some point ‘we haven't gotten to the forms yet’ stops being an administrative note and starts being the whole story.

Source: Read the original at NV → Scored: News of Sorrow · Kevin MacLeod · CC BY 4.0

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