Experts of the International Monetary Fund (IMF) have positively assessed the measures taken by the Ukrainian authorities to overcome the aftermath of the global economic crisis, the National Bank of Ukraine (NBU) said in a posting on its Web site after a recent IMF-NBU meeting.
"IMF experts have positively assessed the changes that happened in Ukraine in 2010 both in the sphere of overcoming the aftermath of the global economic crisis, and in improving and reforming the state’s economy," reads the posting.
As was reported, an IMF mission started its work early in February. They have been discussing the macroeconomic situation in the country and the fulfillment by Ukraine of the conditions of the IMF’s Stand-By Arrangement (SBA).
According to the statement, IMF Mission Chief for Ukraine Thanos Arvanitis was satisfied with the proper fulfillment by the NBU of its SBA-related commitments.
"As of today, the second review of the fulfillment by Ukraine of the SBA-related commitments is nearing completion," the NBU said. "In particular, the sides have started agreeing a related letter of intent, which, in keeping with the results, will outline Ukraine’s tasks."
During consultations, NBU Governor Serhiy Arbuzov said that a gradual decrease in underlying inflation to 5% as of the end of 2014 and further capping of consumer prices at about 5% from 2014 are among monetary policy priorities for the medium-term outlook.
In his words, the NBU is able to operate a whole range of monetary tools to fulfill the undertaken commitments and achieve the goals set before the central bank.
