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Monday, February 17, 2020

Acting Ukrainian President Turchynov introduces National Bank of Ukraine governor to staff

Ukraine's acting President Oleksandr Turchynov has officially introduced Stepan Kubiv, the new governor of the National Bank of Ukraine, to the NBU staff.

"The banking system is the backbone of the economy. The restoration of confidence in the Ukrainian banking sector and the hryvnia is the basis for the further economic recovery and development of our country. The National Bank of Ukraine is the core of the country's banking system. It is the key regulator and issuing center. How fast we will be able to emerge from the crisis and fully stabilize the domestic situation depends primarily on the well-designed policy pursued by the National Bank of Ukraine," Turchynov said. "Stabilization of the hryvnia exchange rate is undoubtedly a key issue that raises public concern. It is also the National Bank of Ukraine's priority area, being part of its broader efforts to achieve economic stability in the country. The new team is faced with strategic, ambitious tasks, the implementation whereof being crucial for the present and future of our country."

Kubiv was appointed by the Ukrainian parliament on Feb. 24 after it relieved Ihor Sorkin of his duties as governor.

"I would like to say that we have held meetings with foreign creditors, representatives from their treasuries to discuss the systems of governance, risks, and capitalization, as well as confidence in the country's banking system," Kubiv said.