NBU fulfilling its commitments to international partners - Shevchenko

NBU fulfilling its commitments to international partners - Shevchenko

The National Bank of Ukraine (NBU) continues to implement reforms in the financial sector and meet its commitments to international partners.

The press service of the NBU reported this following a meeting of NBU Governor Kyrylo Shevchenko with Ivanna Vladkova Hollar, Head of the IMF mission in Ukraine.

“Continuing cooperation with the IMF is of strategic importance, and there are no other options on the table for us but to continue to engage in this relationship. We are ready for the mission to commence its work as soon as possible," he emphasized.

According to Shevchenko, the NBU remains committed to continuing the reforms Ukraine has carried out in recent years. The central bank has clearly demonstrated it through its consistent policies. 

"The NBU has been fulfilling its commitments under the IMF’s Stand-By Arrangement. We pursue a consistent monetary policy, adhere to inflation targeting and flexible hryvnia exchange rates, and strengthen corporate governance reform in state-owned banks. In addition, the NBU is working to reduce banks’ NPL ratios. Specifically, the Financial Stability Council in late June approved three-year plans to reduce NPLs in state-owned banks," Shevchenko said. 

During the meeting, the NBU Governor and the Head of the IMF mission in Ukraine also exchanged views on the challenges facing the Ukrainian and global financial systems amid the COVID-19 pandemic.


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