As part of the visit of the International Monetary Fund (hereinafter referred to as the IMF) mission to Ukraine, the first meeting between the senior officials of the National Bank of Ukraine and a team of experts from the IMF's European Department headed by Mr. Christopher Jarvis took place on 4 February 2013.

In his welcome address, Mr. Ihor Sorkin, Governor of the National Bank of Ukraine, has informed the IMF team that the National Bank of Ukraine remains firm on its stance that cooperation with the IMF is of crucial importance.

“We are interested in the resumption and intensification of co-operation with the IMF under an IMF-supported program. The senior officials of the IMF have expressed their appreciation for much of our efforts,” said Mr. Ihor Sorkin.

The Governor of the National Bank of Ukraine have also provided an insight into the performance of the banking industry of Ukraine and informed the IMF team about considerable progress Ukraine has made in implementing its commitments set out in the Memorandum of Economic and Financial Policies.

Mr. Christopher Jarvis has affirmed that the IMF is satisfied with the progress Ukraine has made in fulfilling its obligations: “We welcome the progress achieved by Ukraine within the framework of cooperation, and would like to accentuate the measures aimed at maintaining price stability in the country”.

At the conclusion of the meeting the sides have agreed to hold a number of working meetings to discuss the problems and tasks in an effort to continue cooperation between Ukraine and the IMF.