IMF urges Ukraine to keep central bank independent as governor's exit rattles market
KYIV (Reuters) - The International Monetary Fund urged Ukraine on Thursday to maintain the independence of the central bank after Governor Yakiv Smoliy unexpectedly resigned, citing “systematic political pressure”.
The negative fallout from Smoliy’s resignation prompted the finance ministry to say it was not going ahead with a planned offering of dollar-denominated Eurobonds.
Smoliy’s resignation from the National Bank of Ukraine risks derailing a $5 billion deal agreed with the IMF last month to fight an economic slump exacerbated by the COVID-19 pandemic.