Purpose: Implementation of the needs of Ukraine, in particular the NBU, for capacity development in accordance with the priorities defined in the Extended Fund Facility (EFF) program.
Components:
- monetary, exchange rate and financial sector policies;
- legal, governance and anti-corruption reforms (anti-money laundering/combating the financing of terrorism (AML/CFT), insolvency/resolution, issues of central banking, financial and fiscal law);
- statistics and macroeconomic mechanisms;
- improving macroeconomic forecasting and policy analysis frameworks.
Products implemented for the NBU and key events:
Financial Monitoring area:
- two AML/FT oversight missions were conducted.
Banking Supervision area:
- a diagnostic mission was conducted to develop risk-based surveillance.
CBDC area:
- the experience of the central banks of Canada, Sweden, and Peru in researching the end user of CBDC services has been presented
- a Roadmap for conducting the survey and the next steps within the framework of the E-hryvnia project has been formed.
Virtual Assets area:
- the mission was carried out to develop an optimal model for legislative regulation of the issue of virtual assets and the activities of service providers with virtual assets.
Macroeconomic Forecasting area:
- three missions were conducted to review the NBU's Forecasting and Policy Analysis System (FPAS), including the Quarterly Forecast Model (QFM). An alternative forecast for the development of the Ukrainian economy for 2025-2028 has been developed for internal use in order to test the validity of the model and deepen understanding of the specifics of the updated version of the QFM.
Market Operations area:
- a mission was carried out to develop the market for currency risk hedging instruments
- a mission was carried out to ensure that counterparties meet the criteria for monetary operations and the emergency liquidity assistance (ELA) mechanism.