According to EBA, the NBU currently understands that currency restrictions are gradually exhausting their function, and the macroeconomic situation in the country is stabilizing. Because of this, the regulator is actively working on developing its Currency Liberalization Strategy. It will be built as a phased plan, implemented as the necessary prerequisites are formed, without being tied to specific time frames. It will also be discussed with the IMF during its mission at the end of May.
Moreover, the discount rate might be lowered in the fourth quarter to 21%. Also among the priorities are the removal of restrictions on the use of corporate payment cards and providing bank guarantees for the participation of companies in tenders for the reconstruction of Ukraine.
“The next steps in the strategy are to ease restrictions for cross-border transfers, interest payments on Eurobonds, etc.”, the EBA clarified.