IMF encouraged by Ukraine's success in conducting reforms - Lagarde

"I'm extremely encouraged by the progress that you have been achieving [over] the past few months," she said. "In a difficult environment, macroeconomic stabilization is taking hold and the economy shows signs of turning the corner," she said. "The fiscal position is getting stronger, the foreign exchange market has stabilized, and the banking sector is being repaired so that banks are sounder and can start to provide credit again. The recent debt restructuring agreement is a vital complement to economic reforms, and an essential step toward creating fiscal space, external sustainability, and improved confidence," she said. "In addition, an independent and capable anti-corruption agency with broad powers has been launched and judicial reform has been initiated," she said. Lagarde said that it is important to achieve understanding between the authorities that are conducting reforms and the general public.