Ukraine to discuss a new cooperation program with IMF

Negotiations on a new cooperation program will begin next year by the National Bank and the International Monetary Fund.

This was stated by the chairperson of the National Bank Kyrylo Shevchenko in an interview with Bloomberg.

He stressed that cooperation with the IMF was, above all, about reputation and trust. "After all, it's also about money," Shevchenko added, recalling that Ukraine had received the second tranche of the stand-by program in November this year following the first review. The IMF's conclusions also unblocked a €600 million tranche from the EU for Ukraine.

The NBU chairperson stated that it was not a question of continuing the current program of cooperation with the IMF.

"Next year we will move on to discuss a new cooperation program," he said.

Shevchenko commented on the issue of independence of the NBU, which is one of the structural beacons of the Memorandum with the Fund. He said that he did not see any violations of the NBU's independence due to the adoption of a new law. In addition, the head of the regulator "does not see any risks at the moment."