NBU governor, EBRD president discuss situation in financial sector

NBU governor, EBRD president discuss situation in financial sector

Governor of the National Bank of Ukraine (NBU) Kyrylo Shevchenko and President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso have discussed the situation in the financial sector, the NBU's macroeconomic policy to support the economy and the financial sector in the context of the coronavirus pandemic.

“I’ve had an important meeting yesterday with Madame Odile Renaud-Basso, President of the EBRD. The meeting focused on the general situation in the financial sector, the NBU’s macroeconomic policy to support the economy and the financial sector during this crisis, and the projected impact of Covid-19,” Shevchenko wrote on his Facebook page following an online meeting with the EBRD president.

According to him, Madame Renaud-Basso said that cooperation between two institutions is developing actively.

“Our partners continue to support our banking sector reforms and monitor progress in our cooperation with the IMF. They praised us for taking timely action against the fallout from the spread of Covid-19. The NBU’s quality banking supervision and monetary policy helped Ukraine overcome the toughest stage of the coronavirus crisis without sustaining shocks,” Shevchenko wrote.

He added that the parties also discussed the issues of the privatization of Oschadbank, changes to the law on the Deposit Guarantee Fund, and the problem of the Deposit Guarantee Fund’s solvency.

Shevchenko reminded that the EBRD is one of the largest investors in Ukraine and is an important partner of the NBU. In 2020, the NBU and the EBRD signed an agreement to make up to USD 500 million in foreign exchange swap transactions denominated in dollars and hryvnias.


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