KYIV – On July 1, the governor of the National Bank of Ukraine Yakiv Smolii submitted his letter of resignation to the president. “For a long time, the National Bank of Ukraine has been under systematic political pressure. This makes it impossible for me, as the governor, to effectively carry out my duties as the head of the National Bank of Ukraine and interact with other government agencies,” stated Mr. Smolii, according to the NBU’s official website.
The next day, President Volodymyr Zelenskyy reiterated his commitment to the principle of the central bank’s independence and the need to preserve its institutional capacity. “An independent national bank is a guarantee of macroeconomic stability of the state and the welfare of Ukrainians. Therefore, as president, I will protect the independence of the NBU under any leadership as a basis for the financial and macroeconomic stability of our state,” Mr. Zelenskyy said in a statement on the Presidential Office website.