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Head of National Bank of Ukraine resigned

Source : 112 Ukraine

Yakiv Smoliy made such decision allegedly due to political pressure
21:50, 1 July 2020

Yakiv Smoliy, Head of the National Bank of Ukraine
NBU

June 1, head of the National Bank of Ukraine (NBU) Yakiv Smoliy wrote and submitted to the President of Ukraine a letter of resignation of his own free will. The press service of the NBU reports.

Related: Ukraine’s Cabinet delays launch of gas market for population

For a long time, the National Bank of Ukraine has been under systematic political pressure. This makes it impossible for me, as the chairman, to fulfill the responsibilities of the National Bank’s leadership and interact with other government bodies. I want to warn you against further attempts to undermine the institutional foundations of the central bank in Ukraine," Yakiv Smoliy stated.

As we reported before, by prior arrangement, all the amounts that Ukraine has discussed with the IMF and other donors will be allocated to the state budget to cover the deficit.

Related: Ukraine’s Cabinet delays launch of gas market for population

"That is if, in previous years, part of the funds went to the Ministry of Finance, and the other went to the National Bank's international reserves, then under this program, everything will go to cover the deficit," he said.

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