Statement by the IMF Managing Director on Ukraine
IMF News, July 14, 2020
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Bibliographic details
- Published: July 14, 2020
Summary of the statement
- Press Release No. 20/259
- Date: July 14, 2020
- Speaker: Kristalina Georgieva, Managing Director of the International Monetary Fund
- Context: An open discussion with President Volodymyr Zelenskyy on concerns about the pressures being put on the National Bank of Ukraine (NBU).
Findings and assessments
- “The reform of the NBU and its performance over the past five years is a clear success story for Ukraine.”
- “An independent central bank helps macroeconomic stability, supports investors’ confidence, and protects the financial system—all crucial preconditions for investment and growth.”
- “The credible policy actions of the NBU have been instrumental in stabilizing the economy.”
- “The successful clean-up of the financial sector – which was ravaged by fraud – is also credit to the supervisory work of the NBU.”
Policy recommendations and imperatives
- “It is in the interest of Ukraine to preserve the independence of NBU and it is also a requirement under the current IMF-supported program.”
- “I urged President Zelenskyy to stay the course of sound monetary and financial policies – those are key to stronger investment and inclusive growth.”
Media and contact information
- IM F Communications Department — MEDIA RELATIONS
- PRESS OFFICER: Gediminas Vilkas
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org
- Twitter: @IMFSpokesperson
Source: Press Release No. 20/259, July 14, 2020, International Monetary Fund.