The Chairman of the National Bank of Ukraine, Andriy Pyshny, expects that the list of key structural benchmarks and priority steps for the new cooperation program with the International Monetary Fund will include the development of capital market infrastructure, the de-shadowing of the economy, the legalization of the virtual assets market, and the establishment of a clear legal framework for its operation. According to Pyshny, among these areas, the development of capital market infrastructure will be of particular importance.
This is reported by Finway
Approaching European Standards and Prospects
The head of the NBU emphasized that the program will also reflect active work on harmonizing the regulatory environment of the financial sector with European norms. The National Bank has already made significant progress in this direction: the level of equivalence currently stands at 77%, whereas before the full-scale war, this figure was below 50%.
“We plan to achieve 100% equivalence by 2027,”
Pyshny noted.
Reforms in Financial Markets and the Role of State Banks
Deputy Chairman of the NBU Serhiy Nikolaychuk reminded that the implementation of the roadmap for the development of financial market infrastructure has already become one of the structural benchmarks of the current IMF program. He also noted that further progress in reforming state banks and implementing stable taxation of the banking system are important elements for the future cooperation program with the Fund.