President’s Office, G7 ambassadors react to NBU Governor’s resignation

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Open source

The Office of the President of Ukraine has stated that the absolute priority of the head of state and his team is to ensure the independence of the National Bank of Ukraine, which President Zelensky has repeatedly noted.

“The Board of the National Bank will continue its activities on the principles of independence and professionalism. The National Bank of Ukraine together with the government should continue to implement a balanced monetary and fiscal policy, which will serve as a guarantee for macroeconomic and financial stability and will contribute to economic growth and the restoration of bank lending,” the statement reads.

Discussions on the activities of the National Bank of Ukraine should be based solely on the principles of professionalism and should be devoid of political coloring, which could have a negative impact on the institutional capacity and independence of the National Bank.

At the same time, the ambassadors of the G7 countries have reacted to the statement by Yakiv Smolii about his resignation from the post of Governor of the National Bank.

The statement notes that the resignation of the head of the National Bank may pose a threat to the reliability of reforms in Ukraine.

“An independent National Bank is a fundamental achievement for Ukraine, which reduced corruption, promoted growth and saved the bankrupt banking sector. Undermining this extremely important institution would be a big step back and jeopardize the credibility of and support for Ukraine’s reforms,” the G7 ambassadors convinced.

Read also: NBU Governor Smolii resigns due to political pressure.

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