Yatseniuk: Hryvnia becomes stable, yet much depends on Donbas events

03:41, 06 April 2015
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The Ukrainian government and the National Bank of Ukraine have managed to stabilize the forex rate of the hryvnia against foreign currencies due to talks with the country's key creditor, the International Monetary Fund (IMF). However, much depends on the situation in eastern Ukraine and the fulfillment of the Minsk agreements.

Future developments in Ukraine depend on the situation in Donbas - Yatseniuk / Photo from UNIAN

This was announced by Ukrainian Prime Minister Arseniy Yatseniuk on the air of Channel 1+1.

"I want to be cautious, yet cold-minded at the same time in the issue of the monetary and exchange rate policy. This is the National Bank's remit, and everyone should be responsible for own [tasks]. But we've held talks with the IMF and received the first $5 billion. It is now in the reserves, and the other part is in the government's reserves. It is designed for external payments. We have stabilized the exchange rate," Yatseniuk said.

"However, much depends on the military situation, on what's going to happen in the east. If the situation becomes stable, this will have a positive impact on the economy," he added.

As UNIAN reported, Ukraine and the IMF on March 11 gave the green light for a four-year Extended Fund Facility program worth $17.5 billion. On March 13, Ukraine received the first tranche worth $5 billion under the program.

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