The continuation of financial cooperation with the International Monetary Fund (IMF) in 2018 will allow Ukraine to maintain currency and exchange rate stability, in particular, at the end of this year the hryvnia to U.S. dollar exchange rate will be about UAH 29.5/$1, the founder of Dragon Capital investment company (Kyiv), the president of the European Business Association (EBA), Tomas Fiala, has stated.

"We expect UAH 29.5/$1 at the end of 2018, UAH 30.5/$1 at the end of 2019," he said during the traditional discussion of the macroeconomic forecast for the year at the EBA in Kyiv.

"Of course, there could worse, much worse without IMF money," he said.

He noted that today, given the favorable situation, Ukraine could borrow about $2 billion in the market without resuming financing under the IMF program, but it will be more expensive and does not solve all the problems the country faces in connection with the payment of $10 billion this and next year, when presidential and parliamentary elections will be held in the country.

The EBA president said having international reserves in the amount of $18.8 billion at the end of this year, Ukraine has to repay $12 billion to the IMF and $3 billion on eurobonds under U.S. guarantees. In addition, more than $3 billion has been received from the EU in recent years and $3 billion from the World Bank, which shows the critical importance of international financial support for Ukraine, Fiala stressed.

Commenting on the current situation in the foreign exchange market, the expert expressed opinion that the peak of the traditional hryvnia rate depreciation at the beginning of the year has already been passed and now it will gradually be strengthened until summer, which will also be replaced by the already traditional seasonal weakening in autumn.