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Ukrainian central bank governor steps down


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Ukrainian central bank governor steps down

Valeria Gontareva resigned as governor of the National Bank of Ukraine, effective May 10.

"My mission is complete," Gontareva said. "First, the country has moved to a flexible exchange rate and implemented the new monetary policy of inflation targeting.

"Secondly, the banking system has been cleansed of insolvent banks and its future resilience strengthened. Thirdly, the National Bank has been completely transformed, all the processes have been reset and today our central bank is a strong modern organization."

She will remain in her post until relieved from her duties by the Verkhovna Rada, the country's parliament.

Gontareva, who was appointed governor in 2014, said there are currently no planned changes to the central bank's policy, noting that it will continue with the "consistent realization" of the policy implemented during her three years in office. She added that resistance to reforms is becoming stronger but the central bank mustremain independent and outside of politics.

Gontareva's departure comes a few days after the central bank confirmed that she plans to step down. Local media also reported that protesters attempted to prevent her from going to work and vandalized her house in a bid to exert pressure on the policy of the regulator and Gontareva herself.