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IMF advises Ukraine to adhere to the principles of central bank independence
The International Monetary Fund reacted to the decision of the NBU Council regarding two members of the Board of the National Bank of Ukraine, Ekaterina Rozhkova and Dmitry Sologub. The statement was made by Josta Lyngman, IMF Resident Representative in Ukraine.
This was reported by the IMF office.
Lyngman pointed out that ensuring the accountability of the NBU board should be carried out in accordance with the management principles of the National Bank. These governance criteria were developed in consultation with IMF specialists during previous programs supported by the International Monetary Fund.
“These principles worked both for the benefit of the NBU and for the Ukrainian economy as a whole. Their observance strengthened the credibility of the NBU as an independent and professional central bank, providing the National Bank’s policy with more reliability and efficiency,” the statement said. .
As RBC-Ukraine previously reported, the Council of the National Bank of Ukraine on October 2 decided to reprimand and not express confidence in the first deputy director of the NBU Ekaterina Rozhkova and deputy director Dmitry Sologub.
The first vice president of the NBU Ekaterina Rozhkova believes that the decision of the Council of the National Bank of Ukraine is an alarming sign for the independence of the NBU.
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