IMF insists on increasing the flexibility of the hryvnia

IMF insists on increasing the flexibility of the hryvnia rate.

This was announced by the IMF Resident Representative in Ukraine Jerome Vashe, during the Ukrainian Banking Forum, organized by the Adam Smith Institute, the "Ukrainian News" reported.

The Resident Representative at the same time noted that there was no serious progress in this direction.

"We do nit have the impression that we are working as adequately as needed", – Vashe said.

Among other requirements of the Fund, the IMF Resident Representative named: the increase in gas tariffs for households, strengthening of the financial sector, improving the business climate.

He also called for the continuation of the efforts of Ukrainian authorities to stabilize the banking sector.

Recall that the IMF recommends Ukraine to conduct an independent audit of banks for an objective assessment of asset quality.

As you know, the Executive Board of the International Monetary Fund will discuss the Ukrainian issue at the meeting scheduled for mid December 2013

The group of IMF experts visited Kyiv during the period from 17 to 29 of October 2013.

The previous stand-by program was completed last year. Since then, the Ukrainian government have been stating the need to open a new credit line of about 15 billion dollars. These funds are primarily needed for payments under previous IMF loans.