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Monday, February 17, 2020

National Bank of Ukraine meets with representatives from banking sector

Senior managers of the National Bank of Ukraine recently held a working meeting with representatives from the Independent Association of Ukrainian Bank and some of the country's leading banks.

The meeting was also attended by Stepan Kubiv, the deputy chairman of the Ukrainian parliament's Committee on Finance and Banking.

The meeting covered the current state of Ukraine's banking system amidst the political uncertainty and noted that all banks are operating as normal. The participants resolved to develop and introduce a new instrument designed to maintain banks' liquidity.

Officials in Parliament are also pushing ahead with the monumental task of rebuilding the collapsed government.

The country, however, is believed to be approaching an economic disaster and is in desperate need of international aid. Acting Ukrainian President Aleksandr Turchynov warned in an open letter to the Ukrainian people on Sunday that "Ukraine is now in a pre-default condition and sliding into the abyss."