We stand on threshold of financial and economic crisis, - Ukraine’s PM

Source : 112 Ukraine

Ukraine enters this world crisis stronger than in it was in 2008
19:47, 11 March 2020

Denys Shmygal
Open source

As a result of the epidemic of Chinese coronavirus Covid-19 in the world, Ukraine stands on ‘the threshold of financial and economic crisis’ as 112 Ukraine reported citing Prime Minister of Ukraine Denys Shmygal.

“Concerning the council of financial stability. The issue was about the challenges, which result from, let’s say, from coronavirus in the world. In fact, we stand on the road, in some countries it is the beginning of such a financial and economic crisis. Ukraine enters this world crisis tougher than in it was, for example, in 2008,” Shmygal said.

Related: Woman returned from Italy is hospitalized with suspicion for coronavirus in Zaporizhia region

According to the PM, there is a great deal of liquidity, high gold and exchange stocks in Ukraine, as well as the reserve on budget rate and quite positive dialogue with the IMF.

“We had the conference call with the IMF leadership and we agreed on the systematic continue cooperation without changes of some conditions of the course. We just move in the context, which we had. The IMF asked us to fulfill eight parameters and we have two parameters left to fulfill. We hope to fulfill them in two, maximum of three weeks. In other words, there is a progress in this direction,” Shmygal said.

Related: Doctors not confirm six coronavirus cases in Dnipropetrovsk region

Ukraine also got a positive estimation of the exporters on the extra possibilities. There is also a number of factors – these are crisis issues, possibilities of the inner market, domestic producers, agricultural producers, producers of the technological means, exporters.

“That is why, I will not comfort and sat that we will win from crisis but from the point of view of the tools, which owned by the ministry of finance, economy ministry, the National Bank of Ukraine – we are ready to face financial crisis, as well as, we are ready to face the crisis tied with the virus,” the PM concluded.

Related: Quarantine announced in Kyiv over coronavirus: What will change?

As we reported, the Kyiv state administration introduced a ban on holding mass events in the capital with the participation of more than 60 people until March 31 due to the spread of coronavirus.

Besides, the Ukrainian government has approved the list of measures that have to be taken in order to prevent the spread of coronavirus in Ukraine.


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