The issue of allocating aid to Ukraine from the EU and the USA should be resolved in the coming months. Delays will have a negative impact on the foreign exchange market. This is stated in the report following the meeting of the NBU Monetary Policy Committee on December 13, during which the decision to cut the key policy rate from 16 to 15% was supported.

According to the participants of the discussion, the risks of inflationary development and exchange rate stability in the context of the war remain significant, and some have even partially materialized. In particular, there has been a delay in the provision of external financial assistance to Ukraine, and uncertainty remains about the timing and amount of further revenues. The support budgets for Ukraine for 2024 from key partners, the EU and the USA, have not yet been approved.

"This problem is likely to be resolved in the coming months. The basis for this, in particular, is the successful completion of the second revision of the IMF's Extended Fund Facility program for Ukraine and the relevant assurances of international partners, which are an integral part of this program," the statement said.

According to the NBU, Ukraine's international reserves currently amount to almost $39 billion and are sufficient to maintain control over exchange rate dynamics.

"However, delaying the resolution of the issue of international financing may negatively affect expectations and, therefore, cause additional demand for the currency. Accordingly, the NBU should act prudently so as not to undermine the achievements in ensuring exchange rate stability and moderate inflation," the NBU said.