You're reading: National Bank of Ukraine develops action plan for year

The strategy of reforming the banking system until 2020, the development of which began at the National Bank this year, has been transformed into the NBU action plan for the coming year, NBU Head Valeriya Gontareva has said.

“The document has been transformed into the action plan for 360 days.
It has been developed and I think it will be published soon,” she told
reporters in Kyiv.

Gontareva noted that among the priorities is the cleansing of the
banking system from insolvent and unscrupulous banks, which deliberately
and routinely violate the requirements of financial monitoring, as well
as the recapitalization of the remaining banks.

She stressed that in the recently created committee of reforms under
the president of Ukraine the National Bank would primarily propose the
adoption of the law on the protection of creditors’ rights.

The NBU head also noted that there is the task to transfer to
inflation targeting. She said that originally as part of the program
with the International Monetary Fund (IMF) it was supposed to carry out
the transition within 12 months. However, in view of hostilities in the
country, which could last for another few months, now the time of the
transition is estimated at 12-18 months, she said.

Photo by Mykola Lazarenko / DYVYS.IN