Ukraine has sufficient resources to ensure hryvnia stability – finance minister

Ukraine today has enough capabilities and resources to ensure macroeconomic stability, said Minister of Finance of Ukraine Serhiy Marchenko.

"Now we have the capabilities and resources to ensure macroeconomic stability more than ever. As of July 1, a single treasury account has a significant amount of funds in it in the amount of UAH 75 billion and over US$2 billion, which allows Ukraine to retain full control of public finances, and fulfill all our obligations to international partners and citizens of Ukraine. Social obligations will be fulfilled on time and in full," Marchenko told a Kyiv briefing on Thursday.

The statement comes following an unexpected resignation of NBU Governor Yakiv Smolii which he filed for on Wednesday, which led to Ukraine canceling the new issue of government bonds worth $1.75 billion maturing in three years.

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Serhiy Marchenko also said that the Ministry of Finance would continue to engage with Ukraine's international partners and investors, and that it considers it important to ensure the independence of the National Bank.

"Today, the Ministry of Finance will continue to pursue a measured fiscal policy, and hopes to cooperate with the NBU regardless of personalities at the helm of the regulator," the minister added.

As UNIAN reported earlier, on July 1, National Bank Governor Yakiv Smolii on Wednesday, July 1, submitted to president a resignation letter over what he said was a long-standing systematic political pressure, which made it impossible for him to effectively fulfill his duties.