MainEconomic

Ukrainian PM convenes Financial Stability Council meeting

The prime minister and the central bank governor will discuss what to do about the hryvnya rate.

Ukrainian PM convenes Financial Stability Council meeting
Arseniy Yatsenyuk
Photo: www.dyvys.in

Prime Minister Arseniy Yatsenyuk is planning to meet Finance Minister Natalie Jaresko and National Bank of Ukraine governor Valeriya Hontareva to discuss the situation with the hryvnya exchange rate, he said at a government meeting on 20 January.

"I am initiating a meeting of the Financial and Economic Stability Council where we need to discuss several issues. First of all, this is the currency and exchange rate stability. I will not let it happen the way it was last year when we had to interrupt the Cabinet of Ministers meeting to make some emergency decisions to stabilize the currency exchange sector," he said.

"After the Ukrainian government delegation returns [from Davos], I suggest that we urgently hold a meeting with the finance minister, the head of the National Bloc, the entire economic bloc and inform the president which steps need to be taken. I would like to stress once again that one of the main steps is to continue cooperation with the International Monetary Fund as the main and key creditor of Ukraine. They give money only when there are reforms therefore they must continue," Yatsenyuk said.

The exchange rate of the hryvnya on the interbank market fell to almost 25 hryvnyas per dollar whereas on the black market dollars are sold for over 27 hryvnyas.