Parliament sacks central bank chief Gontareva

Updated

Some 342 lawmakers voted for the decision.

!!!!!!!!!!!!!!!! UAA1 !!!!!!!!!!!!!!!

The Verkhovna Rada, Ukraine's parliament, has dismissed Governor of the National Bank of Ukraine Valeriya Gontareva.

Some 342 lawmakers voted for the decision with the minimum required set at 226 votes, according to an UNIAN correspondent.

Read alsoSmolii vows no significant personnel reshuffles if appointed NBU Governor

The motion to dismiss the chief banker was tabled by Ukrainian President Petro Poroshenko.

Addressing the parliament prior to the voting on her dismissal, Gontareva said she thought her mission as chief banker was accomplished, citing reforms in the banking sector as her achievements.

"I consider my mission to be accomplished, because the reforms have taken place," she said in parliament to report on her performance on March 15.

Gontareva recalled that since 2015, the NBU had received a new mandate to ensure price stability.

"We have completely rebooted and developed a new monetary policy – inflation targeting," the central bank's head said. "World experience shows that the course we've chosen is the most effective for ensuring low and stable inflation."

Gontareva also urged all branches of power to work non-stop to curb inflation in Ukraine to 5% over the next two years. "I want to emphasize that all branches of power need to work non-stop to reduce inflation to this level in the next two years," she said.

Meanwhile, the heads of the parliamentary factions harshly criticized the performance of the Gontareva-headed Central Bank, accusing her of the swift weakening of the hryvnia, large-scale bankruptcy of banks and the lack of lending.

UNIAN memo. NBU Governor Valeriya Gontareva tendered a letter of resignation to Ukrainian President Petro Poroshenko on May 10, 2017, after a three-year tenure. Until her dismissal, she was on long-term leave. Since May 11, 2017, the NBU has been headed by her first deputy, Yakiv Smolii.

Poroshenko tabled the Gontareva dismissal motion on January 18 in keeping with the Constitution of Ukraine. Draft resolution No. 7500 on Gontareva's dismissal was endorsed by the parliament's committee for financial policy and banking.

!!!!!!!!!!!!!!!!!!!!!!!! UAA2 !!!!!!!!!!!!!!!!!!!!!