National Bank of Ukraine to reconsider macroeconomic forecasts for IMF due to Donbas blockade

National Bank plans to hold extraordinary meeting on March 20

16:46, 19 March 2017

Ukrainian photo

National Bank of Ukraine (NBU) is going to hold an extraordinary meeting of monetary policy committee on March 20 in order to renew macroeconomic forecasts taking into account the effect of trade blockade against occupied territories of Donetsk and Luhansk regions, which will contribute to accelerating another IMF tranche. This was reported by the press service of National Bank of Ukraine on Facebook.

"Ukraine is under the program of cooperation with the International Monetary Fund. The latter course of events in the country requires some further studying of their potential impact on the economy and taking it into consideration in macroeconomic forecasts of the program. In turn, the National Bank of Ukraine also plans to update macroeconomic forecasts with regard to the effect of the blockade of trade with occupied areas of Donetsk and Luhansk regions. For this purpose on Monday, March 20, 2017, ad hoc meeting of the NBU monetary policy committee will be held. Updated macroeconomic forecasts are to be provided to the IMF. Dialogue and technical consultations with the IMF are continuing," the message reads.

As it was reported earlier, the meeting on $1 billion tranche allocation for Ukraine under the Expanded Financing Facility program (EFF) has disappeared from the IMF Executive Board agenda.

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