Hryvnia exchange rate: The IMF says what it should be

The IMF program with Ukraine provides for a floating exchange rate of the hryvnia to the dollar. This is necessary to stabilize monetary policy. This was stated by the Director of the IMF Communications Department, Julie Kozack, writes UNN.

So, now, according to the program, Ukraine has an inflation targeting regime, and that is what our program with Ukraine is focused on. So, they have an inflation targeting regime. They are very focused on ensuring the stability of the monetary policy regime that Ukraine has. And, of course, this involves a floating exchange rate.

Let us remind youThe IMF Mission started work on the next review of the EFF program for Ukraine on Tuesday, May 20.

The decision to provide Ukraine with about $520 million under the four-year EFF program must be approved by the Executive Board.

For referenceOn March 31, 2023, the IMF Executive Board approved a four-year program under the Extended Fund Facility (EFF) for Ukraine with funding of approximately US$15.5 billion (SDR 11.6 billion).

The program is part of a package of international support for Ukraine amounting to approximately US$148.8 billion for 2023-2027.