NBU implements all structural benchmarks to get IMF loan

NBU implements all structural benchmarks to get IMF loan

Ukrinform
The National Bank of Ukraine (NBU) has fulfilled all the tasks required to obtain a loan from the International Monetary Fund (IMF).

According to an Ukrinform correspondent, NBU First Deputy Governor Kateryna Rozhkova said this during the presentation of a report on financial stability.

"One of the main structural benchmarks was the development of amendments to the law on banks and banking. Today, this bill has been registered in the Verkhovna Rada. The second major point was the approval of state banks' plans on their work with non-performing assets. We have done it too. The third thing we had to do was approve at the Financial Stability Board a plan to restore the solvency of the Deposit Guarantee Fund. This has been done too. To date, the National Bank has fulfilled all the preconditions for the mission to begin its review [of the Stand-By Arrangement with Ukraine]," Rozhkova said.

According to her, the traditional structural benchmark for such a period is the approval of the state budget for next year.

"It has also been done. Therefore, in terms of fundamental and important things, they [the benchmarks] have been implemented," Rozhkova said.

The IMF mission began its work in Ukraine on December 21. Until December 23, the talks will take place remotely due to the coronavirus pandemic.

The mission plans to resume meetings in January 2021.

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