Ukrainian economy is fragile, but signs of recovery are already visible - IMF
Rate stabilization, trade growth, slowing of economic recession in Ukraine were observed by the Deputy Director of the Fund, David Lipton
Today the Ukrainian economy remains very vulnerable, but shows concrete signs of recovery though. This was stated by the International Monetary Fund's External Relations Department with the reference to the first Deputy Director David Lipton.
"The Ukrainian economy is extremely vulnerable, but we witness visible signs of recovery. In recent months, the exchange rate has already stabilized, domestic trade increased, economic downturn slowed down. Continued reforms will reach the turning point and start sustainable economic growth in the future," said Lipton.
According to him, that the removal of restrictive measures in the currency market is possible if only the situation with the banking sector of the country is improved.
Lipton also highlighted that Ukrainian banking system stabilization of is a key point to economic recovery: "The government recognizes that continuing the fiscal discipline is needed to reduce public finances risks and strengthen".
"Strong political support should be aimed at fiscal consolidation and energy sector reform along with sufficient social care. Fight against corruption and improving the business climate are equally important," underlined the IMF representative.
July 31, the IMF Executive Board approved the allocation of the second $1.7 bln tranche under the Extended Fund Facility. Ministry of Finance expects to receive these funds in the coming days.
- UKRAINE CRISIS 23:59Donbas conflict: 28 attacks reported, - ATO HQ
- UKRAINE CRISIS 23:14OSCE Representative to visit occupied Donbas, meet Ukraine’s hostages
- UKRAINE CRISIS 22:31Next Trilateral Contact Group meeting in Minsk planned for November 9
- UKRAINE CRISIS 21:49Ukraine in Minsk offers to liquidate Donetsk and Luhansk republics
- POLITICS20:56Poroshenko receives credentials from Iraq and Azerbaijan Ambassadors
- UKRAINE CRISIS 20:18Ukraine in Minsk insists on primacy security issues and OSCE border control
- UKRAINE CRISIS 19:34Russia not to allow ICRC mission to Ukraine’s prisoners in Donbas
- FINANCE18:44Groysman provides electronic declaration of his possessions
- POLITICS17:57Poroshenko receives credentials from Ambassador of Poland Jan Peklo
- SOCIETY17:15Russia's Supreme Court upheld Karpyuk, Klykh sentences
SOCIETY 10:30, 18 July Matriculation campaign 2015: new challenges for Ukraine
19:02, 26 October Anti-Putin protests in Tel-Aviv
18:44, 26 October Russia's Supreme Court hearing in Klykh-Karpyuk case