Ukraine and IMF agreed terms of further financial support
Ukraine Today is joined by Jerome Vacher, the International Monetary Fund Resident Representative to Ukraine, to discuss the most recent work of the IMF Mission in Ukraine.
‘We had a very good cooperation with the NBU [National Bank of Ukraine]. As I have mentioned, we have seen tremendous progress on bank supervision in particular. But we have also seen that the institution was able to transform and reform itself. Basically, to become a modern central bank.'
'Typically the work of our review is twofold. First, is a backward looking – the performance of the economy and a number of indicators that allow us to assess the policies. For example, on the fiscal side or the monetary policy side. And the forward looking element, which is aimed at understanding of the commitments that the authorities are ready to take and what type of policies they envisage for the future. And, in the end, whether we would be in the position to support this policies going forward.'