Ukrainian Central Bank to Ease Currency for IMF Payment
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Ukraine’s central bank will “liberalize the currency market” to meet International Monetary Fund demands and secure the next payment from a $15.6 billion bailout, Deputy Governor Yuriy Kolobov said.
The Natsionalnyi Bank Ukrainy plans to allow lenders to enter into swaps contracts with a term of as long as one year to protect against currency risks, Kolobov said. A resolution allowing such arrangements between banks and with the central bank will take effect in the “near future,” he said.