On 1 November 2011, the Governor of the National Bank of Ukraine met Oleksandr Yefremov, Head of the Fraction of the Party of Regions in the Verkhovna Rada, and Vitalii Khomutynnikov, Chairman of the Verkhovna Rada Committee on Finance, Banking, Tax and Customs Policy.
The meeting addressed the issues on the overall state of the country’s economy and its banking sector, outlook for their development, new financial instruments of the National Bank of Ukraine used to protect citizens’ savings as well as the joint work with the Government and Presidential Administration aimed at improving legislation in the field of banking supervision and regulation.
The Governor of the National Bank of Ukraine has pointed out that the regulator monitors the situation in the European and U.S. financial markets on a permanent basis and he assumes that the task of ensuring the stable hryvnia exchange rate is attainable despite pessimistic forecasts. “We do expect a crisis to occur in Ukraine, but we are preparing for the possible repercussions in the wake of the exacerbation of the situation in the external financial markets,” noted Sergiy Arbuzov.
Apart from that, the sides discussed the further prospects of restricting the impact of the shadow sector on the cash foreign exchange market and attraction of investors to Ukraine. The People’s Deputies emphasized the importance of economic growth and the restoration of investor confidence in Ukraine due to a coordinated and predictable policy pursued by the Verkhovna Rada, Cabinet of Ministers and the National Bank of Ukraine.
Vitalii Khomutynnikov, Chairman of the Verkhovna Rada Committee, in his turn referred to the amended rules on currency exchange as “a timely measure”, which made it possible to curtail the demand for the euro by half since the beginning of the month. “The stable hrynia is a good sign. We do not see the grounds for the devaluation of hryvnia. The Committee intends to further back the policy pursued by the National Bank of Ukraine aimed at maintaining stability in the foreign exchange market. We feel confident that it will be a significant step towards regaining the confidence of foreign investors in Ukraine,” he summarized.