NBU has not yet begun talks with IMF on new program - Smoliy

NBU has not yet begun talks with IMF on new program - Smoliy

The National Bank of Ukraine (NBU) believes that Ukraine needs a new program of cooperation with the IMF, but such negotiations have not yet begun.

Acting NBU Governor Yakiv Smoliy said this at a briefing on Thursday, an Ukrinform correspondent reports.

"We will need a new program of cooperation with the IMF, as an integral part of macro-financial stability and the maintenance of gold and forex reserves, given that payments on foreign debt servicing have the peak load for 2019-2020. The current program expires in the first quarter of 2019. We have not started the negotiations yet, but we already think about when it is possible. Having consulted with the Finance Ministry, we will initiate such negotiations with the IMF," Smoliy said.

As Ukrinform reported, the government and the NBU have to pay more than $16 billion on servicing foreign debt in 2018-2020.


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