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NBU Governor Kyrylo Shevchenko Discusses Further Cooperation with IMF on U.S. Visit

NBU Governor Kyrylo Shevchenko has met with Ivanna Vladkova Hollar, Head of the IMF mission in Ukraine.

The NBU remains committed to continuing the reforms Ukraine has carried out in recent years, he assured her during the meeting. The central bank has clearly demonstrated it through its consistent policies. 

"Continuing cooperation with the IMF is of strategic importance, and there are no other options on the table for us but to continue to engage in this relationship. We are ready for the mission to commence its work as soon as possible," the NBU Governor emphasized.

The NBU continues to implement reforms in the financial sector and to meet its commitments to international partners, the NBU Governor stressed.

"The NBU has been fulfilling its commitments under the IMF’s Stand-By Arrangement. We pursue a consistent monetary policy, adhere to inflation targeting and flexible hryvnia exchange rates, and strengthen corporate governance reform in state-owned banks. In addition, the NBU is working to reduce banks’ NPL ratios. "Specifically, the Financial Stability Council in late June approved three-year plans to reduce NPLs in state-owned banks," Kyrylo Shevchenko emphasized. 

During the meeting, the NBU Governor and the Head of the IMF mission in Ukraine also exchanged views on the challenges facing the Ukrainian and global financial systems amid the COVID-19 pandemic.

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