Ukraine announced on Monday a sharp revision of this year's economic forecast from 3.7 percent growth to a 3.9 percent contraction due to the novel coronavirus. "These changes are the result of a considerable global economic downturn" due to the pandemic and drastic prevention measures, the government said in a statement. The inflation rate was revised from 5.5 percent to 8.7 percent, according to the government, which still hopes to return to economic growth in the second half of the year. President Volodymyr Zelensky warned a default was possible and urged lawmakers to adopt legislation required by the International Monetary Fund to resume vital financial aid. One bill is on opening the country's agricultural land market while the second would prevent Ukraine's top oligarch Igor Kolomoisky from overturning the nationalisation of Privatbank, the largest lender. "Either we adopt two crucial laws after which we will receive (...) at least $10 billion", or we risk "the economic downturn and even the threat of default", Zelensky said in a TV address on Sunday. Parliament meets on Monday for an extraordinary session and is expected to consider the laws required by the IMF and several others aimed at bolstering the fight against the coronavirus. ant-dg/ma/rl