NBU names fundamental issue in talks with IMF

Deputy Governor of the National Bank of Ukraine (NBU) Dmytro Sologub has said the situation in negotiations with the International Monetary Fund (IMF) is quite positive, and the only fundamental issue is the renewal of responsibility for illegal enrichment.

"Besides the temporary changes in the IMF program, the situation in negotiations with the Fund is quite positive. The only fundamental issue that arose during the implementation of the fund's program was the law on illegal enrichment. As for the rest of issues, we don't see any major problems," the NBU wrote on Facebook with reference to Sologub's statement.

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According to the NBU's June report on financial stability, the regulator considers it appropriate to initiate a new long-term cooperation program with the IMF before the completion of the current one. At the same time, the National Bank does not expect the new program to be in the same volumes as in the crisis year of 2015, when the Fund approved a four-year program of expanded financing for $17.5 billion.