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Stefanchuk signs two bills on NBU independence

Verkhovna Rada Chairman Ruslan Stefanchuk has signed two bills on the National Bank of Ukraine, which are fundamentally important for further cooperation between Ukraine and the IMF.

The first one is Bill No. 5853 "On the introduction of amendments to Article 33 of the Budget Code of Ukraine to clarify the information provided by the National Bank of Ukraine for the preparation of the Budget Declaration," Ukrinform reports.

The document amends Article 33 of the Budget Code of Ukraine regarding the list of information that the NBU must submit annually to the president, the Verkhovna Rada and the Cabinet of Ministers of Ukraine.

The NBU must annually (by March 1 of the current year) inform the Cabinet of Ministers, the president and the parliament about the estimated forecast for the part of the profit before distribution, which is to be transferred to the state budget.

The bill enters into force on the day following the day of its publication, but not earlier than the day of entry into force of the bill "On the introduction of amendments to certain laws of Ukraine concerning certain issues of activity of the National Bank of Ukraine."

In addition, Stefanchuk signed Bill No. 5852 "On the introduction of amendments to Article 3 of the law of Ukraine 'On Public Procurement' regarding the procurement of legal services by the National Bank of Ukraine."

According to the text of the document, the list of cases not covered by the law "On Public Procurement" now includes the procurement by the National Bank of Ukraine of legal services to represent its interests in foreign authorities, as well as those related to the protection of its rights and interests during the settlement of disputes and the consideration in foreign jurisdictions of cases in which the NBU is a party.

It is expected that the implementation of the law will contribute to the proper representation of the NBU's interests in foreign jurisdictions.

The documents have been sent to the president for signature.

The Verkhovna Rada adopted the two bills on October 19, 2021.

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