IMF tracks signs of economic recovery in Ukraine

International Monetary Fund has noted positive changes in the economic and financial situation in Ukraine.

19 September 2015 16:24

The IMF welcomed the conclusion of currency swap agreements for $ 0.5 billion between the Ukraine's National Bank and the Sweden's Central Bank, reported the Ukrinform citing the IMF First Deputy Head David Lipton.

- The IMF welcomes the recent currency swap agreement with a total value of $ 500 million between the Sveriges Riksbank Sweden's Central Bank and the National Bank of Ukraine. Under the agreement, for six months the IMF will provide significant financial support for the successful implementation of the economic reform program in Ukraine, in addition to the financial commitments from the IMF and other multilateral and bilateral creditors, as stated in a document.

The IMF First Deputy Head stressed that macroeconomic stabilization efforts in Ukraine along with the introduction of strong policies "are the signs of economic recovery." Lipton also said that the Ukrainian-Swedish agreement will "strengthen confidence in the Ukraine’s further progress and stability resumption."

The agreement between the Ukraine's National Bank and the Sweden's National Bank envisages USD 500 million development policy loan in exchange for Ukrainian hryvnia. The funds will be used to replenish the international reserves of Ukraine.