The main objective of the strategy changes is to reduce uncertainty and improve the solvency of the regulator.
The National Bank of Ukraine began to draft an updated strategy that takes into account the transition to the “phase of a long war” and the need for subsequent recovery. This was announced by the head of the NBU Andriy Pyshny on Facebook on Monday, February 27.
“The NBU, as the architect of the financial market, cannot continue to follow the “time of peace” strategy. We must respond to the challenges and develop an updated strategy, keeping two directions in sight: the “resistance strategy”, because we have entered the phase of a long war, and the “recovery strategy, “because victory is ahead and the need for a quick recovery,” he wrote.
The main objective of the strategy changes is to reduce uncertainty and improve the solvency of the regulator.
“The main conclusion is that through joint efforts we must avoid monetizing the budget deficit this year. Exit may seem like a simple and quick solution, a miracle cure. But drugs cannot be more destructive than the disease,” Pyshny emphasized.
The head of the National Bank also said that the previously announced assessment of banks will begin in April.
As reported, in May 2021, the NBU, headed by Kirill Shevchenko at the time, approved a strategy until 2025. The first strategy of the National Bank was published in March 2018 and included seven goals. Including ensuring low inflation, creating a stable, transparent and efficient banking system, credit continuity, effective regulation of the financial sector, etc.
NBU presented a commemorative banknote Note. We will not forgive
news Correspondent.net on Telegram. Subscribe to our channel Athletistic
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.