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Photo Ukrinform-UATV
A stable and transparent banking system is the main goal of the Ukrainian National Bank’s strategy. Bankers, scientists, and officials have gathered for its presentation. Ukraine’s National Bank has presented its plan of development up to 2020. The document was prepared by Ukrainian economists in cooperation with foreign experts. The strategy is based on the banking supervision standards of the European Union. The Presentation of the new strategy was delivered on the same day the new Ukrainian Governor of the National Bank (NBU) took office. After that Yakiv Smoliy voiced 7 strategic priorities of the institution. All of them are aimed at creating a more modern and transparent banking system.
The Chairman of the Ukrainian National Bank (NBU) Yakiv Smoliy commented on his future plans, “In the next three years, we will focus on the following goals: ensuring low and stable inflation; supporting a stable, transparent, and effective banking system; resuming credit as a guaranty for accelerating economic development; creating an effective model for regulating the banking sector; liberalizing foreign exchange regulation; increasing accessibility of financial services and further transforming the NBU into a modern, transparent, and independent institution”.
The Ukrainian hryvnia will keep a floating exchange rate. According to the NBU, no rapid depreciation of the country’s currency is expected in the nearest future.
“The main task for NBU these days is to raise Ukrainians’ trust in the banking system,” said the Ukrainian Acting Director of the Centre for Economic Strategy Hlib Vyshlinsky.
The NBU sees further cooperation with the IMF as a sign of economical and financial stability in Ukraine. The NBU expects to receive another transh from the International Monetary Fund by the end of the year.
