IMF welcomes the Riksbank's swap agreement with Ukraine's central bank

09:09, 19.09.2015 1 min read

The International Monetary Fund (IMF) says it welcomes a recent swap agreement between Sweden's Central Bank Sveriges Riksbank and the National Bank of Ukraine (NBU), the IMF said in a statement on Friday.

"The agreement, in an amount of up to $500 million for a six month period, provides important financial support for the success of Ukraine's economic reform program, in addition to financial commitments from the IMF and other multilateral and bilateral creditors," the statement quotes IMF First Deputy Managing Director David Lipton as saying.

According to him, in a difficult environment, macroeconomic stabilization is taking hold in Ukraine on the back of strong policies and the economy shows signs of turning the corner.

"The swap agreement with the Riksbank will reinforce confidence in Ukraine's continued progress in restoring stability," he said.