Ukraine’s Governor of the National Bank Kyrylo Shevchenko resigns “due to the health-related issues that can’t be ignored any longer.”
Kyrylo Shevchenko was appointed in 2020. During the war, Ukraine’s hryvnia lost 35% of its value, inflation amounted to 25% as of September.
“The war was yet another difficult test for our team and for me personally. I think we have passed it with dignity,” he wrote on Facebook. “Since the start of the full-scale war, the NBU:
- ensured uninterrupted operation of the financial system;
- prevented panic in FX market;
- put a stopper in the large-scale capital outflow to protect the reserves;
- kept inflation at the adequate level during the war;
- supported state budget, understanding the difficulty of raising money elsewhere during the war.
Our efforts at the international level also should not go unnoticed. We have spurred on international financial aid for Ukraine, but also initiated a number of decisions at the international level to weaken the economy of the aggressor state.“
