New Head of National Bank lists his goals

Source : 112 Ukraine

247 lawmakers voted in favor of appointing Yakov Smoliy earlier today.
17:08, 15 March 2018

Yakiv Smoliy, Acting Head of National Bank of Ukraine

Yakov Smoliy has listed his goals as the Head of the National Bank of Ukraine in an address to the members of Parliament before the latter appointed him as the new chairman of the country’s central bank, broadcast live by 112-Ukraine.

Related: Special committee recommends Parliament to appoint Smoliy Head of National Bank

Smoliy stressed that the National Bank needs to effectively fulfill its mandate – to ensure the price and financial stability in the nation. These are the goals he named on the path to doing so:

  • low and stable inflation, within five years in the range of 5% ± 1 %;
  • integration of the Ukrainian financial system into the European system;
  • recovery of crediting;
  • effective model for the regulation of the financial sector;
  • currency liberalization;
  • financial inclusion, which means affordability and security of banking services.

Related: Yakiv Smoliy appointed Acting Head of National Bank

He emphasized the fact that in order to achieve these goals, the National Bank will require independence from political developments.

The Parliament of Ukraine voted to fire Valeriya Hontareva from the position of the Head of the National Bank of Ukraine. 342 members of Parliament voted in favor of firing her. After that, 247 lawmakers voted in favor of appointing Yakiv Smoliy as the new Head of Ukraine’s central bank.

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