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Resignation of National Bank’s governor derails transaction of decade, - official

Source : 112 Ukraine

Yakiv Smoliy has submitted his resignation letter to President of Ukraine Volodymyr Zelensky on July 1
14:23, 3 July 2020

Minister of Finance of Ukraine Serhiy Marchenko
Ukraine's Finance Ministry Facebook

The resignation of the Governor of the National Bank of Ukraine Yakiv Smoliy disrupted the "transaction of the decade" for Ukraine. It was stated by Minister of Finance of Ukraine Serhiy Marchenko on the air of 1+1 TV channel.

"Yes, indeed, one extraordinary event happened yesterday (July 1), it was a bit shocking and disrupted our transaction of the decade. I am not afraid of that word. Because the profit we could make from yesterday was last gained in 2007-2011,” he stated.

Marchenko was asked whether Smoliy had been the guarantor of this transaction.

Related: G7 ambassadors react to resignation of Ukraine’s National Bank’s head

"No, of course. For the whole financial world, the change of the country's chief banker is an extraordinary event that raises many questions. We were forced to stop the placement of Eurobonds, and this morning (July 2) it was canceled. It was a forced decision," the official added.

At the same time, he assured that there was no reason to panic over Smoliy's resignation.

As we reported earlier, the International Monetary Fund expects Ukraine to maintain the independence of the National Bank (NBU) following the resignation of Yakiv Smoliy.

Related: EU concerned over possible political pressure on head of National Bank of Ukraine

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