The National Bank of Ukraine welcomes putting the second review of the IMF's cooperation program with Ukraine on the IMF Executive Board's agenda for 14 September 2016.
“The IMF's EFF Program is a reflection of a shared vision of reforms on the part of Ukrainian authorities and the international institution. The NBU, as the central bank, has done its utmost to bring Ukraine closer to the successful completion of the second review,” said NBU Deputy Governor Mr Dmytro Sologub. “Ongoing cooperation with the IMF will not only allow Ukraine to further build up international reserves, but will also underpin reforms that are key to putting Ukraine’s economy back on a path of sustainable economic growth.”
The IMF Executive Board's approval of the second review under the EFF will enable Ukraine to unlock financing from other international donors, as well as from domestic and foreign private investors. The disbursement of these funds will help improve the balance of payments and boost economic growth. At the same time, a positive IMF decision will calm jitters in the FX market and support the trend toward lower exchange rate volatility, the first signs of which have been observed in the last few days.