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Monday, August 21, 2017

NBU, government officials meet on Ukraine's financial sector

The National Bank of Ukraine's senior management team met on Tuesday with senior government officials and representatives from major Ukrainian banks to discuss the country's financial situation.

Ukrainian Prime Minister Arseniy Yatsenyuk said that financial aid, which is expected to arrive in the near future from foreign creditors like the International Monetary Fund, would help stabilize the hryvnia exchange rate. He said bank managers need to focus on lending to the agricultural sector, a significant part of the economy.

Stepan Kubiv, the governor of the NBU, discussed the banking sector's social responsibility. He said the improved liquidity support mechanism was designed to uphold banks' lending ability. Kubiv called on banks to actively use the facility.

The participants also discussed the development of a strategy for the banking system through the year 2020. Representatives of the banking community and experts from international institutions have been invited to participate in the project. The project seeks to promote open dialogue and allow for the consideration of proposals put forward by the financial sector.

Two strategic meetings involving experts from financial institutions are scheduled to take place soon.

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