You're reading: Jaresko says forex restrictions will be gradually removed after acceleration of reforms, stabilization in country

Forex restrictions will be gradually removed according to the calendar approved jointly with the International Monetary Fund (IMF) when the reforms are accelerated and the situation in the country stabilizes, Minister of Finance Natalie Jaresko has said at a meeting of the Verkhovna Rada committee on economic policy in Kyiv.

“Foreign exchange restrictions should be removed gradually when we have enough confidence in the system, that capital will not be withdrawn from the country as soon as we lift the limitations. The National Bank has a calendar when and how to remove them, developed together with the International Monetary Fund. We are ready to do this for businesses faster than our partners. But they replenished international reserves and do not want see an outflow of capital from the market,” Jaresko said.

The minister noted that currently the balance of payments “is more or less calm,” however there is a psychological pressure on the system, and there are also economic issues, in particular, in commodity markets, which are important for the national economy.

“We can expect the removal of all restrictions after the improvement and intensification of reforms, but only step by step, according to this calendar, and when the situation stabilizes,” the official added.