In recent months,
signs that economic stability is gradually taking hold are steadily emerging,
the International Monetary Fund (IMF) said in its statement on discussions with
Ukraine on the first review under the Extended Fund Facility arrangement.
"The foreign
exchange market has remained broadly stable. Gross international reserves,
although still very low, have increased to US$9.6 billion at end-April. Banks'
deposits in domestic currency have been recovering. The budget outturn in the
first months of 2015 was stronger than expected, partly due to temporary
factors," IMF Chief for
Ukraine Nikolay Gueorguiev said in the statement on May 31.
"The authorities are also determined to complete
the ongoing debt operation in line with program objectives. This will ensure
that public debt is sustainable with high probability and the program remains
fully financed, which are requirements for the completion of the review. More
broadly, continued financial support for Ukraine's reform efforts from official
and private creditors is vital for the success of the program," he said.
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