IMF delay forces National Bank of Ukraine to keep forex controls
Central bank to leave foreign exchange controls in place until political instability subsides and reforms get under way
The National Bank of Ukraine (NBU) has extended its currency controls, citing delayed loans from the International Monetary Fund and increased political instability.
In a statement released by the bank on December 15, deputy governor Oleg Churiy noted "uncertainty" had risen due to "increased political tension", while the likelihood of delays in receiving funding from the International Monetary Fund had grown due to "slow implementation" under the fund's programme.
Capital controls were
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