Today, on 13 September 2017, the Board of the National Bank of Ukraine, headed by NBU Acting Governor Yakiv Smolii held meeting with Mr David Lipton, First Deputy Managing Director of the International Monetary Fund. The meeting took place as part of the visit by the IMF's First Deputy Managing Director to Ukraine, which lasts from September 12-14.

The sides discussed the current macroeconomic situation, recent developments in the banking sector and Ukraine’s progress in implementing IMF-supported reform agenda.

The Ukrainian side pointed out that despite the fact that the situation in the financial market remains stable and external economic factors are favorable, the overall macroeconomic situation still remains vulnerable to shocks.

The IMF representatives and NBU experts agreed that the factors that could have an adverse impact on the macroeconomic stability and undermine economic growth that has just returned to positive territory should be thoroughly analyzed by the central bank while implementing monetary policy.

During the meeting, the NBU Board members shared their vision on the measures needed to be taken to move the banking sector reforms forward, particularly legislative amendments required to improve corporate governance in SOBs and address non-performing loans.

At the conclusion of the meeting, Mr Lipton welcomed the reforms implemented by the NBU. “The NBU is a guarantor of stability, which is crucial for Ukraine. However, there is always work to be done for a good central bank”.