NBU governor to take part in ad-hoc meeting of ECB General Council
For the first time, the Governor of the National Bank of Ukraine, Kyrylo Shevchenko, will join the ad-hoc meeting of the ECB General Council, which also includes the governors of the national central banks of the 27 EU member states.
According to a message of the NBU on Facebook, he received the invitation from President of the European Central Bank (ECB) Christine Lagarde at a meeting with her at the Spring Meetings of the International Monetary Fund (IMF) and the World Bank in Washington.
"This is an important step for our country's rapprochement with the EU, as we will be able to join the dialogue with the ECB and other EU central banks through this platform, present the position of the NBU and the interests of Ukraine, and also be more involved in discussions that are carried out at the level European System of Central Banks," the National Bank said.
The NBU said that the meetings are held once a quarter and the nearest with the participation of the NBU will be held in early May. "We hope that the NBU will regularly participate in ad-hoc meetings, taking into account the strategic course of our state on joining the EU," the National Bank added.
The Central Bank said that one of the main tasks of the NBU in this process is the regulatory approximation of the banking system of Ukraine to the norms and standards of the EU for further entry of the Ukrainian economy into the EU common market.
Also, Shevchenko and Deputy Head of the NBU Serhiy Nikolaychuk discussed an important block of issues with the IMF leadership, having meetings with Managing Director of the IMF Kristalina Georgieva as part of the work of the official delegation of Ukraine and separate meetings with Director of the IMF European Department Alfred Kammer and Head of the IMF Mission in Ukraine Ivanna Vladkova Hollar.
They discussed, in particular, a long-term program aimed at ensuring macro-financial resilience and stimulating further structural reforms in the country, necessary for the restoration of the Ukrainian economy and EU membership.
Sources of financing for Ukraine were also one of the topics of the meetings of the NBU leadership with Governor of the National Bank of Belgium Pierre Wunsch, President of the Dutch central bank De Nederlandsche Bank (DNB) Klaas Knot, Board Chairman of the Bank of Lithuania Gediminas Šimkus, and Minister of Finance of Lithuania Gintarė Skaistė.
"We hope for EU grant funds for the post-war reconstruction of Ukraine, as well as large-scale investments in economic recovery, although we consider reparations from Russia as the main source of funding, in particular the funds and property of the aggressor seized abroad under the sanctions," Shevchenko said.