IMF does not require the devaluation of the hryvnia: explanation from a member of the NBU Council

Member of the National Bank of Ukraine Council Vasyl Furman stated that the IMF does not attempt to influence the NBU or demand the devaluation of the hryvnia. He emphasized that the central bank independently determines the exchange rate, and cooperation with the IMF is a mutual partnership, not pressure.

'Only the NBU can determine Ukraine's exchange rate policy,' Furman emphasized.

The economist explained that the agreement with the IMF on 'increasing exchange rate flexibility' does not imply devaluation but aims to reduce the risks of exchange rate fluctuations and enhance the economy's resilience to external shocks.

Stability in the foreign exchange market

Furman is confident that the foreign exchange market will remain stable and under control, thanks to a sufficient level of international reserves, which will reach about 54 billion dollars by the end of the year.

The expert urged not to view the exchange rate as a target for the NBU, indicating that it is merely a technical indicator for converting income. He is confident that the country's economy will continue to develop steadily, regardless of sharp fluctuations in the hryvnia exchange rate.

Ukrainian economist Vasyl Furman assured that the National Bank of Ukraine independently controls the exchange rate and cooperates with the IMF on partnership principles, without allowing pressure for devaluation of the hryvnia. The government expects that the foreign exchange market will remain stable, thanks to the large reserves of the NBU and careful management of the economic situation.