Rada appoints NBU Council members under its quota

Friday, July 8, 2016 - 11:50 (EEST) Section: Latest news

The Verkhovna Rada of Ukraine, the country`s parliament, has appointed members of the Council of the National Bank of Ukraine (NBU) under its quota.
The NBU Council includes Head of the Economic Theory Department at Ternopil National Economic University Victor Koziuk (elected for the period of seven years), ex-Director of the NBU General Department of Monetary Policy Olena Shcherbakova (six years), member of the Editorial Board of VoxUkraine Tymofiy Mylovanov (five years), NBU ex-Deputy Governor Vira Rychakovska (four years), as was informed by First Deputy Head of the Verkhovna Rada Committee on Financial Policy and Banking Mykhailo Dovbenko.
Prime Minister Volodymyr Groysman has thanked Ukrainian MPs for their cooperation on the matter.
”I want to thank you for your support in approving the NBU Council and unlocking a UAH 38 billion transfer to the budget,” the prime minister said.
As UNIAN reported earlier, on July 6, Groysman appealed to Ukrainian MPs with a request to help resume the activity of the Ukrainian parliament and approve the composition of the NBU Council under the parliamentary quota, and by doing so the newly approved Council would be able to approve the 2015 financial statements of the NBU and transfers of UAH 38 billion UAH of regulator`s revenue to the state budget.
The prime minister stressed that a failure to approve the composition of the NBU Council would have jeopardized the carrying out of social payments to the population.
The Law ”On the National Bank of Ukraine” provides for that the NBU financial statements are prepared in accordance with international standards and must be approved by the regulator`s council. The authorities of the previous council expired on September 10, 2015.