EBA announces five priority steps that business expects from new NBU governor.

It is necessary to maintain the ongoing course of macroeconomic stability and sustainable economic growth.



The European Business Association (EBA) has announced five priority steps that business expects from the new governor of the National Bank of Ukraine (NBU).

"The first is to maintain the ongoing course of macroeconomic stability and sustainable economic growth. The situation (including the coronavirus crisis), has shown that the financial and banking systems are particularly well-prepared to the turbulence. A transparent, stable and competitive financial sector is an important component of a country's economic growth. Therefore, it is critical to continue the course in this direction, namely, the cooperation with the IMF," the EBA said in a statement on July 16, 2020.

Read alsoNBU should remain independent to ensure investors' trust in Ukraine – ACC

"The second is to continue the policy of currency liberalization, which has become a necessary and long-awaited change in banking regulation, the purpose of which is to establish a regime of free movement of capital. The third is to support the independence of the NBU, without interfering in its policy of the regulator and without rolling back the reforms initiated in the financial sector," it said.

In addition, the fourth is to support the functioning of the banking system with high liquidity and the fifth is to ensure inflation targeting within the projected margins.

As UNIAN reported earlier, former NBU Governor Yakiv Smolii signed a letter of resignation on July 1, 2020. The move was a result of what he claimed was long-standing political pressure. He forwarded the letter to Zelensky. Under Ukrainian law, Smolii's resignation had to be accepted by the president first and then, his technical dismissal had to be confirmed by parliament. On July 3, Ukrainian parliamentarians voted to back Smolii's exit.

The NBU governor's duties were performed by First Deputy Governor Kateryna Rozhkova.

Today, July 16, the Verkhovna Rada, Ukraine's parliament, backed the appointment of Kyrylo Shevchenko, head of state-run Ukrgasbank, as the new governor of the National Bank of Ukraine.

Related news

Price of imported natural gas in Ukraine 60% up – economy ministry.

The price grew from US$88.4 to US$140.6.

Trump’s tariffs on Canadian steel and aluminum: A timeline of key events since 2017.

The United States is once again imposing tariffs on some imported Canadian aluminum products and Canada is gearing up to retaliate with reciprocal tariffs.

1 7

How the tariff battle between Canada and the United States will impact Canadians.

The U.S. reimposing tariffs on some Canadian aluminum exports and Canada intends to put a reciprocal surtax on aluminum and aluminum-containing products from across the border.

1 290

Lviv Airport optimizes expenses, reaches break-even point – Infrastructure minister.

Lviv Danylo Halytskyi International Airport has reached the break-even point due to the optimization of all expenses, the press service of the Ministry of Infrastructure of Ukraine with reference to Minister Vladyslav Krykliy reported on Friday.


ICU invites NBU council to consider reduction of medium-term inflation target of central bank.

The Council of the National Bank of Ukraine (NBU) should think about lowering the medium-term inflation target of the central bank, which currently stands at 5%, Head of macroeconomic research department of Investment Group ICU Serhiy Nikolaychuk ...


By continuing to browse World News (UAZMI), you acknowledge that you have read the Terms of Use and agree to the use of cookies