Marko Skreb, Canada-IMF Capacity Building Project
Kostiantyn Khvedchuk, National Bank of Ukraine
The National
Bank of Ukraine stepped on the track to a cashless economy aiming at reforming the financial system, improvement of the
transmission mechanism, and reduction of the underground economy and corruption.
A substantial part of money in the Ukrainian economy is estimated to be foreign
cash in circulation. This article underlines the importance of considering it
while conducting monetary policy. Negative consequences of high dollarization
and proliferation of cash are emphasized. We discuss measures that are helpful
in decreasing usage of cash in general and foreign cash in particular.
No comments:
Post a Comment