Ukrainian State Property Fund to present roadmap for implementing int'l valuation standards by end of March - IMF

MOSCOW. March 26 (Interfax) - The Ukrainian State Property Fund is supposed to draw up amendments to a bill on property valuation and propose a roadmap for implementing international valuation standards and creating a register of valuations for financial assets by the end of March 2024, as follows from the Memorandum of Economic and Financial Policies of Ukraine, which the International Monetary Fund (IMF) issued based on the Third Review of the Extended Arrangement under the Extended Fund Facility (EFF).

The State Property Fund should hold consultations concerning such amendments with key stakeholders, i.e. the National Bank of Ukraine, the National Commission on Securities and Stock Market, and international financial institutions, Ukrainian media reported with reference to the document.

Among other things, said roadmap is supposed to outline steps to implement transition mechanisms to international valuation standards and additional training requirements for financial assets valuation specialists.

As reported, the State Property Fund and the World Bank signed a memorandum on reforming the valuation system in Ukraine in 2020. The parliament registered a bill on incorporating international valuation standards into national law and introducing electronic valuation reports in 2022.