14:40 23.03.2017

Good if NBU Council joins talks with IMF – NBU council head

Good if NBU Council joins talks with IMF – NBU council head

Head of the Council of the National Bank of Ukraine (NBU) Bohdan Danylyshyn backs joining the council to drawing up a memorandum on economic and financial policy under the Extended Fund Facility (EFF) program with the International Monetary Fund (IMF).

"The Constitution imposes a mission of the supreme monetary authority in Ukraine on the council. We should not be removed from the negotiations with the IMF," he said in an interview with Interfax-Ukraine.

Danylyshyn said that the council discussed the appropriateness of attracting its members to the negotiations with international financial institutions (IFIs), including the IMF.

"If we are involved in the process we are ready to present our professional conclusions and proposals, including to the draft memorandum with the IMF," he said.

Commenting on the recommendations to the NBU approved at a meeting on February 28, 2017, he said that the recommendations are obligatory for observation by the NBU board, while the council has powers to supervise the implementation of these recommendations.

"I think they [the recommendations] are a road map, the implementation of which would promote for the return of trust to the banking system and restoration of economic activities and crediting in Ukraine," he said.

Danylyshyn recalled that the council as a constitutional institution is obliged to submit quarterly recommendations to the regulator and the government.

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