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 Resuming cooperation with IMF is vital for Ukraine, - NBU

A delay in resuming cooperation with the International Monetary Fund may have negative consequences for Ukraine's financial stability and the level of welfare of its citizens.

As reported by Censor.NET, it is stated in a comment of the National Bank of Ukraine in connection with today's warning by IMF Managing Director Christine Lagarde about the possibility of suspending cooperation between the Fund and Ukraine.

As noted, the NBU is making every effort to ensure macroeconomic and financial stability, in particular by conducting restrained monetary policy to reduce inflation as well as foreign exchange interventions to smooth excessive fluctuations of the national currency.

"At the same time, reaching these objectives is in jeopardy through external shocks and internal political instability," the comment notes.

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The National Bank considers it "vital to resume cooperation with international donors and, above all, with the IMF."

"Resumption of cooperation with the IMF and other donors is a prerequisite for the growth of international reserves to $19.6 billion by the end of 2016. It will also send a positive signal to other international donors and private - foreign and domestic - investors, that will benefit the balance of payments and stimulate faster economic growth," the comment resumes.

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