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TOP-5 decisions that business expects from the new Governor of the NBU

16/ 07/ 2020

Today the Verkhovna Rada of Ukraine has voted for the appointment of Kyrylo Shevchenko as the Governor of the National Bank of Ukraine.

Anna Derevyanko EBA Executive Director
On behalf of the business community, we congratulate the new head of the NBU on his appointment! It is a very challenging position and leading such an institution requires great responsibility. So, we want to wish the Governor much inspiration and motivation to continue the changes that have begun in the country, to ensure economic growth and macroeconomic stability.

Thus, the European Business Association has announced 5 priority steps that business expects from the new Governor of the 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 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.

The fourth is to support the functioning of the banking system with high liquidity.

The fifth is to ensure inflation targeting within the projected margins.

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