09:46 07.04.2021

Ukraine can count on two IMF tranches – NBU governor

2 min read
Ukraine can count on two IMF tranches – NBU governor

Ukraine can count on two tranches of the International Monetary Fund (IMF) due to a longer negotiation process, Governor of the National Bank of Ukraine (NBU) Kyrylo Shevchenko has said.

"The main assumption of our macroeconomic forecast remains the continuation of cooperation with the IMF. Given the longer course of negotiations, we can focus on two tranches," Shevchenko said in an interview with Interfax-Ukraine.

Early February this year, the governor of the National Bank announced the possibility of Ukraine receiving three tranches.

He expressed the hope that the Verkhovna Rada, having returned to its usual mode of operation, will adopt all the laws necessary to continue cooperation with the IMF.

"Now, even in the case of a decrease in volumes [although I am not ready to talk about volumes], there is nothing threatening. These funds can be replaced by the placement of eurobonds. We all know that the IMF is primarily not about money, but about trust in the country. This is a powerful signal to investors," the governor of the central bank said.

At the same time, he said that his institution would not finance the state budget deficit in the absence of funding.

"There was already last year, when there was a lot of speculation on this topic. I can only quote again my favorite article of the NBU Law No. 54: "The National Bank does not finance the state budget deficit." Neither the NBU, nor I plan to deviate from this point," Shevchenko said.

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