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.