Ukrainian President Viktor Yushchenko has no intention of sacking Central Bank Chairman Volodymyr Stelmakh, as demanded by Prime Minister Yulia Tymoshenko, the president`s chief of staff said on Monday, Reuters reported.

"The president will never agree to replace V. Stelmakh, with whom he has worked for many years, including in times of crisis...," Viktor Baloga said in a statement posted on the presidential Web site.

Presidential aide Oleksander Shlapak, addressing a briefing, also said Yushchenko would take no such action against the central bank chief.

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