Kyrylo Shevchenko has said he is resigning for “health” reasons, more than seven months after the start of the Russian invasion of Ukraine.
The President of the Ukrainian Central Bank, Kyrylo Shevchenko, announced on Facebook on Tuesday his resignation for reasons of “health”more than seven months after the start of the Russian invasion of Ukraine. “I addressed to the President (Ukrainian Volodymyr Zelensky, Ed) the request to accept my resignation”, he wrote, specifying that it was a “difficult decision” taken for “reasons related to (her) health”.
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Any reshuffle at the head of Ukraine’s central bank is usually closely watched by Western lenders, whose financial aid is crucial to keep Ukraine’s war-stricken economy afloat. Kyrylo Shevchenko, 49, had headed the National Bank of Ukraine (NBU, central bank) for two years, which plays a key role in the macro-financial stability of this country, whose GDP is expected to contract by 35% in 2022 according to a new World Bank forecast released on Tuesday.
“The war was a difficult ordeal for our team and for me personally”but “I think we passed it with dignity”said Kyrylo Shevchenko. After the start of the Russian invasion, the BNU “ensure the uninterrupted functioning of the financial system”, “prevented panic in the foreign exchange market”, “stopped the massive flight of capitaland prevented the risk of hyperinflation, he welcomed. “Today, the BNU is stronger than ever in its ability to meet challenges and overcome crises”, said Kyrylo Shevchenko again. The Ukrainian parliament could consider his request for resignation as early as this week, according to Ukrainian MP Yaroslav Zhelezniak.
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