Head of Ukraine’s National Bank resigns

The Chairman of the National Bank of Ukraine Yakiv Smolii submitted his resignation to the President of Ukraine.

Smolii attributed his decision to "systematic political pressure" on the central bank for a long time.

"This makes it impossible for me to effectively fulfill my duties as head of the National Bank and to interact with other government agencies. With my resignation, I want to warn against further attempts to undermine the institutional foundations of the central bank in Ukraine," said Yakiv Smolii.

On June 19, the finance committee of the Ukrainian Parliament, the Verkhovna Rada, supported the draft resolution on the evaluation of the activities of the head of the National Bank Yakiv Smolii. The ambassadors of the G7 countries called it "an attempt at undermining the independence of the Ukrainian National Bank."

In May, Smolii claimed that he plans to head the National Bank for another five years - until 2025. He said that there were still many challenges during that time.

  Smolii, Ukraine, National Bank of Ukraine