Ukraine considers various scenarios to maintain macro-financial stability
Head of the National Bank of Ukraine Andriy Pyshnyy (photo: Getty Images)
Ukraine is working on various scenarios to maintain macro-financial stability under any circumstances, states the Head of the National Bank of Ukraine Andriy Pyshnyy.
"Met with Kristalina Georgieva, IMF Managing Director, during a high-level conference in Brussels. We had the opportunity to discuss preparations for the February mission to conduct the third review of the EFF program," he said in a statement.
He noted that he had once again noticed Georgieva's personal one hundred percent involvement in supporting Ukraine.
"We continue to focus on working out all possible measures to preserve macro-financial stability, as Ms. Georgieva said, we will make the impossible possible, as we have been doing for the past two years," Pyshnyy said.
According to him, the NBU is currently preparing a detailed analysis of its performance, as well as the macroeconomic forecast and risks that may affect its implementation.
He also added that given the current year's elections in many partner countries, Ukraine is working on various scenarios to maintain macro-financial stability under any circumstances.
"Ukraine gaining access to frozen Russian assets is one of the positive scenarios that could contribute to a faster economic recovery. Instead, the absence of a decisive response to the aggressor's actions encourages it to increase military pressure, which threatens a longer war, and therefore negatively affects the global security order and global financial stability," Pyshnyy said.
Transfer of Russian assets to Ukraine
After Russia's full-scale war against Ukraine began, Western countries froze the assets of the aggressor country.
Earlier it was reported that the United States proposed to the G7 countries to confiscate $300 billion of frozen Russian assets in favor of Ukraine. The plan is to be agreed upon by the second anniversary of Russia's large-scale invasion.
Ukrainian Prime Minister Denys Shmyhal said that the partner countries were close to resolving this issue.
On January 11, it became known that the White House had supported legislation that would allow for the confiscation of about $300 billion from frozen Russian assets and use the funds to rebuild Ukraine.
