Ukraine President's Office, ruling faction react to chief banker's resignation

12:10, 02 July 2020
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Smolii signed a letter of resignation on July 1, 2020 / Photo from UNIAN

"Ensuring the independence of the National Bank of Ukraine remains our unconditional priority, as the President of Ukraine has repeatedly stated. The Board of the National Bank of Ukraine will continue its activities on the basis of independence and professionalism," the President's Office said in a statement on Facebook in the early hours of July 2, 2020.

"The National Bank of Ukraine together with the government should continue to implement prudent monetary and fiscal policies, which will serve as a guarantee of macroeconomic and financial stability and will promote economic growth and the resumption of bank lending," it said.

Read alsoNBU Board comments on Governor Smolii's resignation

It is also noted "discussions around the activities of the National Bank of Ukraine should be based solely on the principles of professionalism and should be free of political connotations, which may have a negative impact on the institutional capacity and independence of the National Bank of Ukraine."

In turn, MP from the Servant of the People parliamentary faction, Head of the Verkhovna Rada's Financial, Tax and Customs Policy Committee Danylo Getmantsev said Smolii would continue to hold the post of the NBU head if the lawmakers did not support his resignation, according to the RBC Ukraine media outlet.

The MP also said the issue of resignation would be considered at a meeting of the Servant of the People faction, but prior to that, it would be considered by the committee.

In addition, Getmantsev says Smolii's resignation may affect relations with the International Monetary Fund, Ukraine's key lender.

As UNIAN reported earlier, Smolii signed a letter of resignation on Wednesday, July 1, 2020.

The move is a result of what he claims is long-standing political pressure.

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