Allocation of IMF tranche recognition of Ukraine’s economic stability - NBU

The decision of the International Monetary Fund to allocate for Ukraine another tranche under the Extended Fund Facility is a recognition of the stability of the country's economy and an important signal to partners.

This was emphasized by the Governor of the National Bank of Ukraine, Andrii Pyshnyi, who commented on the IMF's move on Facebook, Ukrinform reports.

"The IMF notes the stability of the country's economy and emphasizes that maintaining timely and predictable external support is important for maintaining macro-financial stability. This sends an important signal to our partners," Pyshnyi wrote.

At the same time, the head of the central bank noted that Ukraine should gradually increase its ability to finance budget needs from its own sources, including domestic debt. He emphasized once again that the Ukrainian side shares the position of the IMF leadership regarding the implementation of steps to finance the budget deficit exclusively from non-emission sources.

The NBU will continue to focus on maintaining macroeconomic stability in the face of the ongoing war, ensuring moderate inflation and implementing strategic documents, as well as continuing to reform the financial sector.

In addition, before the sixth review of the Extended Fund Facility program, scheduled for December, the National Bank should assess main financial and operational risks to financial stability and update the contingency plan. The regulator will also work on further improving its supervisory function.

As reported earlier, on October 18, the International Monetary Fund decided to allocate another $1.1 billion tranche to Ukraine as part of the EFF.