09:55 02.01.2020

Weakening of hryvnia before New Year Day was speculative, hryvnia strengthening expected in 2020 – PM

2 min read
Weakening of hryvnia before New Year Day was speculative, hryvnia strengthening expected in 2020 – PM

Ukrainian Prime Minister Oleksiy Honcharuk links small weakening of the hryvnia before New Year Day with speculative demand, but he expects that the strengthening trend for the national currency will continue.

"I think that the trend towards strengthening the hryvnia will continue the next year. I link this with the fact that the population and businesses are gradually gaining confidence in the state," he said in an interview with Ukraine 24 TV channel.

Honcharuk said that a stable hryvnia is "is good for macroeconomic situation."

The head of government also said that the final decision of the International Monetary Fund (IMF) to open a new three-year Extended Fund Facility (EFF) for Ukraine for $5.5 billion is "is a matter of several months."

"This is a technical work that is ongoing now... I have no doubt that we will complete this technical work, there will be no problems," Honcharuk said.

He said that the IMF is too demonized through oligarchic media, while in fact, cooperation with the IMF is "about trust and cheap resources."

The prime minister said that the issue of cheapening money for the population, for example, granting loans to micro and small enterprises at 5-7% under mortgage and business programs is one of the three priorities for the government in 2020.

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