Further devaluation of the hryvnia is very likely – the EBRD representative

Further devaluation of the hryvnia is very likely.

This was stated in an interview with "Yevropeiska Pravda" by the director of the credit market development department of the EBRD London office Andre Kuusvek.

"Given the recent macroeconomic data in Ukraine, as well as political developments in the East, I can not say that further devaluation is impossible," – he said.

According to Kuusvek, in the long run, exchange rates should not be protected, especially if there are fundamental data that point to the artificiality of the rate.

"They need such devaluation, after which it will be clear that there are no more factors for weakening of the currency. Similar measures have been taken in other countries," – he said.