06:20 GMT04 June 2020
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    KIEV (Sputnik) – During an extraordinary session, the Ukrainian parliament, the Verkhovna Rada adopted a law lifting a moratorium on the sale of agricultural land starting 1 July 2021.

    The decision was backed by 259 lawmakers with the required minimum of 226 votes, but the document has yet to be signed by President Volodymyr Zelensky.

    The original version of the law was scheduled to come into force on 1 October 2020. The adoption of this legislation is critical to signing a new loan programme with the International Monetary Fund.

    In December, the International Monetary Fund reached an agreement with Ukraine on a three-year loan worth 4 billion Special Drawing Rights ($5.5 billion), IMF Managing Director Kristalina Georgieva said.

    In 2018, the IMF approved a standby loan agreement of $3.9 billion for Ukraine, with an implementation period of 14 months.

    Tags:
    agricultural, International Monetary Fund, Ukraine
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