Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Thursday, September 21, 2017

Ukrainian central bank to maintain strength through unrest

Governor of the National Bank of Ukraine Stepan Kubiv said in a speech at the Ukrainian Verkhovna Rada session on Wednesday that despite unrest in several areas in the east and south of the country, the central bank will continue to operate and maintain its strength.

"Despite the terrorists' seizures of the National Bank of Ukraine's regional offices in the Autonomous Republic of Crimea and Donetsk region as well as their numerous acts of assault on banks, the banking sector in Ukraine will continue to operate, protect its depositors and finance the economy," Kubiv said.

He also said that the government would continue to protect the country from a serious outflow of deposits.

"Despite the terrorists' seizures of the National Bank of Ukraine's regional offices in the Autonomous Republic of Crimea and Donetsk region as well as their numerous acts of assault on banks, the banking sector in Ukraine will continue to operate, protect its depositors and finance the economy," Kubiv said.

The April agreement with the International Monetary Fund and the opening of a $17 billion line of credit have been critical for stabilization of the financial system, according to Kubiv.

"At the same time, we gradually increase the transparency of our relationships with the society and the business community," Kubiv said.

Organizations in this story

International Monetary Fund 700 19th Street, N.W., Washington, D.C. - 20431

Get notified the next time we write about International Monetary Fund!