New Head of the Central bank appointed – no changes in policies anticipated

UKRAINE - In Brief 25 Feb 2014 by Dmytro Boyarchuk
Yesterday Verkhovna Rada appointed new Head of the Central bank, Stepan Kubiv. He was a head of mid-level local commercial bank for many years. But the main reason for his appointment was his active participation in Maidan events. Bankers are optimistic about this appointment anticipating better access to the Central bank refinancing but we have concerns on this decision. The Central bank is an institution that should define macro-economic policy and equal access to the Bank resources is only part of the functions. At the same time Mr. Kubiv from his first words started talking about hryvnia stability which was the crucial mistake of previous authorities. We cannot rule out that Mr. Kubiv will start doing correct steps for macro-economy stabilization but we have strong feeling that he will repeat almost all mistakes of his predecessors.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.