A. Yatseniuk: Excessive exchange rate fluctuations can be cooled in cause of replenishment of gold and foreign exchange reserves

The Government is considering the issue of cooling excessive exchange rate fluctuations in cause of replenishment of gold and foreign exchange reserves. This was started by Prime Minister of Ukraine Arsenii Yatseniuk at meeting with the business community in Ukraine Monday, March 3.

Arsenii Yatseniuk said that today he has had a telephone conversation with Managing Director of the International Monetary Fund Christine Lagarde. He said he did not disclose details of the conversation, "to avoid excessive expectations" "The only thing I can say - that this government will fulfill all the requirements of the IMF."

"We have no other way. If we still have the economy that survives due to credits and does not produce incomes, it will be a disaster. So we have to spend the most stringent reforms relating primarily social sector, raising tariffs," he said.

"As to the requirements of the IMF regarding the flexible exchange rate it is now so flexible, that even overflexible", he said and stressed that there is the challenge now to set a limit, "Now we are considering the issue of cooling excessive exchange rate fluctuations in cause of replenishment of gold and foreign exchange reserves."