July 7, 2017 / 10:14 AM / a month ago

Ukraine needs to privatise state companies - IMF

A security personnel stands next to International Monetary Fund logo at IMF headquarters in Washington, U.S., April 19, 2017.Yuri Gripas

LONDON (Reuters) - It is time for Kiev to show political will and privatise state-owned companies, the International Monetary Fund's (IMF) mission chief to the country said on Friday, though land reform needs more discussion and it could wait until the next review.

Kiev has been trying to push contested legislation through parliament, including raising the pension age and lifting a ban on land sales, as part of a $17.5 billion bailout agreed with the IMF in 2015.

The IMF's Ron van Rooden said after adopting the new privatisation law, it was time to act.

"They have not sold any companies in the past three years so it's time to show political will and bring some state-owned enterprises to sale," he said, speaking at a conference in London.

On the land reform, he added the fund would be willing to let that go to the next review.

"We think a bit more time and discussion is needed to come up with (a solution) on how to proceed."

Reporting by Sujata Rao, writing by Karin Strohecker, editing by Nigel Stephenson

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