The first stage of currency liberalization announced by the National Bank will cost Ukraine $5.5B.

However, the NBU says it will significantly expand business opportunities, improve the conditions for attracting investment and private capital participation in reconstruction, and, as a result, positively affect economic dynamics.

The regulator added that these steps have been considered in the updated forecast, which provides for preserving international reserves this year and next year at the current level of $43-44B.

The National Bank clarified that, within the framework of the first stage of currency liberalization, it would allow partial dividend payments, removal of restrictions on the import of services, payment of leasing and rent, making payments on existing loans, and ease the work of volunteers and the purchase of military goods for the army.

It will be recalled that the steps for Ukraine’s currency liberalization are contained within the framework for the strategic softening of currency restrictions; the procedure was developed with the IMF and was announced on April 25 by the head of the NBU, Andriy Pyshnyi.