On April 11-13, Governor of the National Bank of Ukraine met his counterparts from the central banks of Austria, Canada, the Netherlands and Poland.
During a meeting with President of the National Bank of Poland Marek Belka, Mr Stepan Kubiv and his counterpart explored the possibilities for further cooperation and provision of technical assistance aimed at securing financial stability as part of the initiative to develop the institutional capacity of the National Bank of Ukraine and discussed the commencement of the second stage of this project focused on the inflation targeting policy and a floating exchange rate regime.
The central banks' cooperation, the provision of technical assistance to develop the strategic planning process at the National Bank and the strengthening of central bank's certain functions, were on the agenda of the negotiations with President of De Nederlandsche Bank Klaas Knot. The sides contemplated different cooperation formats between the central banks of the countries forming part of the constituency in the IMF and the World Bank led by the Netherlands.
Mr Stepan Kubiv discussed the operation of the Austrian banks' branches with Governor of the Oesterreichische Nationalbank Ewald Novotny. The negotiations were focused on Ukraine's participation in the Vienna Initiative, which was set up to provide a framework for coordinating the crisis management and crisis resolution of financial sector issues in Central, Eastern and Southeastern Europe.
During the meeting with Mr Stephen S. Poloz, the Governor of the Bank of Canada, Mr Stepan Kubiv and his Canadian counterpart discussed the financial aid package offered by the Canadian government and the provision of technical assistance in various areas, including the banking supervision, statistics, financial stability analysis and the run-up to the inflation targeting regime. The Canadian government is set to disburse the next 20mn-US dollar tranche to Ukraine as part of technical assistance aimed at completing the transition to inflation targeting regime and making the monetary policy and foreign exchange transactions more efficient, restructuring the banking system, enhancing further the banking supervision, developing the financial stability analysis and strengthening the institutional capacity of the National Bank of Ukraine.
From 10 until 14 April 2014, the Ukrainian delegation led by Governor of the National Bank of Ukraine Stepan Kubiv took part in the Annual Meetings of the Boards of Governors of the IMF and the World Bank Group to be held in Washington.