Ukraine to Ease Capital Controls as Bailout Buoys Hryvnia - Bloomberg:
"Ukraine plans to phase out capital controls as a potential $17 billion International Monetary Fund rescue buoys the hryvnia, a document obtained by Bloomberg News shows.
The Natsionalnyi Bank Ukrainy will draw up a plan by the end of July to gradually cancel curbs on foreign-currency sales imposed in February, according to an April 22 letter of intent to the Washington-based lender, obtained by Bloomberg. The bank won’t set new restrictions or expand the existing limits, according to the document, which covers economic policy and is signed by officials including Premier Arseniy Yatsenyuk.
“We aim to maintain the implementation of a flexible foreign-currency policy,” the Ukrainian officials said in a memorandum attached to the letter. “In exceptional cases, the NBU may sell a limited volume of foreign currency to help restrict devaluation expectations.”
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