Business Maverick: Ukraine’s new central banker focuses on IMF aid

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It’s the first rate-setting meeting for the central bank’s new governor but his focus this week is on negotiations with the International Monetary Fund, a financial lifeline for the war-torn Ukraine.

In one of his first speeches as central bank chief, Andriy Pyshnyi stressed a willingness to work with the IMF and cited a policy of crisis management that he would like to continue. He’s in Vienna this week taking part in the negotiations, but will oversee Thursday’s meeting on rates and a subsequent online briefing.

Policy makers are expected to leave the key interest rate unchanged at 25% for a third meeting, according to all economists in a Bloomberg survey. The central bank has said it won’t tinker with rates through at least April 2024. The monetary policy meeting takes place on the day when the IMF should complete its mission to Ukraine, a meeting that may shed more light on the country’s prospects for getting a sizable aid package from the donor.

Ukraine, which was invaded by Russia in February, is seeking as much as $20-billion in new funds from the lender to

 

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