The NBU named priorities in the negotiations with the IMF

The head of the National Bank said what he expects from the talks that have begun with the mission of the International Monetary Fund.

The National Bank of Ukraine continues to apply inflation targeting, a flexible exchange rate, better corporate governance and a reduction in the level of non-performing loans. The head of the NBU Kirill Shevchenko wrote about this on Monday, December 21, on his Facebook page.

Cooperation with the IMF will ensure stability during a pandemic, he said.

“So we are ready to work with the IMF mission. We are planning a series of meetings with IMF experts this week,” he said.

Shevchenko noted that the IMF mission began its work in Ukraine to review the stand-by cooperation agreement. Due to COVID-19, the mission will operate in an online communication format. The mission will also continue its work in January 2021.

“Cooperation with the IMF is an indisputable basis to support the stability of our country in difficult times of a pandemic,” Shevchenko wrote.

He also added that the implementation of the reserve program will ensure the macroeconomic stability necessary for a safe and continuous recovery of the Ukrainian economy.

As reported, IMF representatives will conduct remote negotiations with the Ukrainian authorities for three days this week and continue into the new year.

The Cabinet of Ministers expects the next tranche from the IMF in the first quarter of next year.

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