The international credit rating agency Standard & Poor`s has updated its forecasts for the exchange rate of the Ukrainian hryvnia to US dollar at the level of 27 UAH/dollar, from current indicators at 24 UAH to dollar.
According to the forecast, the exchange rate indicator will be UAH 27.5 per US dollar at the end of 2020, UAH 28 per US dollar at the end of 2021, and UAH 28.5 per US dollar in 2022.
The report notes that the agency improved its forecast for economic growth in Ukraine this year to 3.2% from 2.5% expected earlier, given the strong economic performance in the second quarter due to high domestic demand.
“While the immediacy of a fresh IMF program has receded, for instance compared to late last year, we would argue that such an arrangement serves to act as an important signal to investors while also facilitating access to funds from other IFIs at concessional rates,” S&P reports.
In this context, any deviation from previously implemented reforms may limit Ukraine’s prospects in terms of securing and supporting agreements with the IMF.
As The Journalist reported, dollar exchange rate hits another low in Ukraine.
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