Representation of the G7 countries in Ukraine commented on the draft resolution of the Supreme Council on the activities of the National Bank. The corresponding statement was made public by the press service of the representative office on June 19. The independence of the Ukrainian central bank in the G7 is considered one of the most important reforms that the Ukrainian government has carried out since the Revolution of Dignity.
“The NBU helped achieve macro-financial stability, resolve a difficult banking crisis and restore confidence in the banking sector, clouded by arbitrariness and corruption,” the statement said. The G7 fears that the loss of independence by the National Bank will damage investor confidence and jeopardize the international support of the Ukrainian government “in building a safe, successful and democratic country.” On June 18, the Verkhovna Rada registered a draft resolution on the report of the chairman of the National Bank, Yakov Smoliy, with which he addressed the parliament in May.
See also: Ukraine received the first tranche from the IMF – Smoliy The document, which was initiated by the People’s Deputy from the “Servant of the People” Alexander Dubinsky, condemns the policy of the National Bank and suggests that it “did not help to protect the economy from the influence of external negative influences during 2019 and during quarantine in 2020, and also did not allow the banking system of Ukraine to be provided with sufficient support to prevent the economic crisis, and therefore was ineffective. ” The resolution also proposes the creation of the Timchaos Investigative Commission to investigate the activities of the management of the National Bank of Ukraine and the management of the Fund for Guaranteeing Deposits of Individuals in 2014-2019. “