The central bank governor of Ukraine has dismissed fears of a default, even as she predicted the economy could contract as much as 10 percent and the country is said to be facing a Greek-style debt controversy.
The Ukrainian economy has deteriorated dramatically this year as tensions with Russia have flared and the currency has continued a free fall against the dollar, but Ukraine central bank governor Valeria Gontareva said the country would not need further bailouts.
“Unfortunately right now because of really drastic deterioration of economic conditions I suppose that we will revise the program and I suppose that it could be even minus 9, or even 10,” Gontareva told CNBC.
“It will be maybe some small adjustment, not necessarily to take any serious steps in changes of the (IMF) program,” she said.
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