Transition from Dollar to Euro: NBU Sets Timelines, IMF Outlines Conditions

IMF Executive Director Vitas Vasiliauskas emphasized the necessity for Ukraine to adapt its legal system to European standards. According to him, membership in the European Union should be the country's strategic goal. 'Just adapt your legal system and become part of the club,' Vasiliauskas stressed.

For his part, Deputy Head of the National Bank of Ukraine Sergey Nikolaychuk noted that a possible transition to the euro is a distant plan for Ukraine and may only be considered in 10-15 years. Nevertheless, cooperation with Eurozone countries may strengthen in the future,' Nikolaychuk added.

Currently, the National Bank of Ukraine is exploring the possibility of transitioning to the euro, but this issue remains at the discussion stage and has no practical significance yet.

Ukraine must adapt its legal system to European standards to bring its EU membership closer. According to statements from IMF representatives and the National Bank of Ukraine, the transition to the euro may only become a reality in the distant future; however, cooperation with Eurozone countries will gradually strengthen.