Ukrainian authorities have recognized the risks to the economy, outlined by the National Bank

On Thursday the Ukrainian news agency UNIAN released a copy of the letter head of the National Bank of Ukraine Sergey Arbuzov the Prime Minister Mykola Azarov, in which the head of the National Bank says the breakdown of cooperation with the IMF and blamed it on the government. In a letter Arbuzov said the risks for the Ukrainian economy, in particular that the National Bank is concerned about the threat of increasing inflation in the country. In April the consumer price index accelerated to 9,4% in annual terms, and by mid-summer it can reach 12-13%. As a result of failure of cooperation with the IMF, according to the National Bank of Ukraine could lose billions of dollars, worsen the investment climate. "You know, there are certain risks that Mr. Arbuzov stresses, and we are well aware of this" – said Deputy Prime Minister of Ukraine, Minister of Social Policy Tihipko the air Ukrainian TV channel "Inter" late on Friday. Vice Prime Minister acknowledged the existence of a letter head of the National Bank, however, he believes that the Government together with the National Bank should work together to take action. "They say that there is a rise in inflation, clearly there is a problem, but it must engage both the Government and the National Bank", – said Tyhypko.