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Posted On

07
October
2022

New NBU governor calls cooperation with IFIs, primarily with IMF, basic priority for central bank

KYIV. Oct 7 (Interfax-Ukraine) – Cooperation with international financial institutions (IFIs), primarily with the International Monetary Fund (IMF), seems to be the main basic priority, since partner assistance is critical for financing the state budget deficit, Andriy Pyshny, the new governor of the National Bank of Ukraine, has said.

"The international level, in my understanding, is today the main priority of the National Bank team and its governor. Preserving macro-financial stability and effective cooperation with international partners is one of the priorities for the functioning of the entire country in a war and, most importantly, its recovery after our victory," he said in the Rada before a vote for his candidacy for the post of governor of the NBU on Friday.

Pyshny recalled that the budget deficit and budgetary needs are more than $5 billion a month this year, and the financing needs for next year are at least $38 billion.

"From what I know and understand, they are ready to provide this money. But for this, Ukraine must effectively work out the interaction and negotiation process with the IMF. This is a green light that will give Ukraine access to the necessary resources that we need so badly for the next year," Pyshny said.

He said that for him, as for the governor of the National Bank, this will be one of the main priorities.