NBU admits delay in restoration of cooperation with IMF
The National Bank of Ukraine (NBU) admits a delay in the restoration of cooperation with the International Monetary Fund (IMF), which has a negative impact on the country's economy.
"The latest tranche arrived in August, and we've got March now. Therefore, as you understand, we unfortunately cannot develop further," NBU Governor Valeriya Gontareva told reporters in Kyiv on Thursday.
In her words, many implemented programs and all international borrowings made by Ukraine depend on what attitude foreign investors, mainly the IMF, have towards the country.
"The Fund and our other international programs are pegged to our reform plan, our movement ahead, and only after that [movement] we indirectly obtain bonuses – funds from international organizations for the replenishment of our international reserves," she said.
In this connection, the chief banker has once again confirmed that further cooperation with the IMF is Ukraine's base-case scenario.
"As you can see, we've been living without a single IMF tranche for six months, and the situation is stable both in the banking sector and on the forex market. But this doesn't mean that we should not continue the cooperation [with the IMF] for further, full-scale development," she summed up.
