KYIV, June 19 – It makes sense for Ukraine to initiate a new long-term program of cooperation with the International Monetary Fund (IMF) before the completion of the Stand By Arrangement (SBA), according to National Bank of Ukraine (NBU).
"The current program expires early next year. Bearing in mind the long list of reforms Ukraine still has to implement and given the vulnerability of the Ukrainian economy to external shocks, the National Bank of Ukraine (NBU) deems it prudent to initiate a new long-term program with the IMF, ideally before the expiration of the current Stand-By Arrangement," the NBU said.
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