Ukraine Faces IMF Pressure to Devalue Ahead of Loan Talks

Ukraine’s central bank is coming under pressure from the International Monetary Fund to devalue the war-battered nation’s currency, a proposal that risks triggering tension in Kyiv ahead of crucial talks on a new loan package.

The IMF is highlighting the benefits of devaluing the hryvnia at a controlled pace as a move that could help shore up Ukraine’s strained finances by boosting budget revenue denominated in local currency, according to people familiar with the discussions.