On 10 November 2011, the National Bank of Ukraine hosted a working meeting between Governor of the National Bank of Ukraine Sergiy Arbuzov and Ambassador Extraordinary and Plenipotentiary of Germany to Ukraine Hans-Jurgen Heimsoeth. Dr. Riccardo Gucci, Chief of the German Advisory Group, and Dr. Michael Freudenberg, Head of Economics Division, participated in the meeting.

The sides discussed the investment climate in the country and the foreign exchange policy pursued by the National Bank of Ukraine, which is aimed at improving the investment climate.

“The National Bank of Ukraine takes the investment climate in Ukraine seriously and uses all possible mechanisms to improve it. In particular, regular meetings with potential investors are held in Ukraine and outside it. We have developed a program which presents the financial position and economic state of the country and conditions under which the state works during the crisis,” noted Governor of the National Bank of Ukraine Sergiy Arbuzov. According to him, the economic situation in Ukraine remains stable and the investment climate is improving in the financial sector.

The Governor of the National Bank of Ukraine pointed out that Ukraine was demonstrating a stable development, with GDP growth standing at 5.3%. The outlook for inflation is expected to be significantly below 8.9%, which has been anticipated by the Government.

 In addition, the Governor of the National Bank of Ukraine indicated that new investors from the Russian Federation and Chine were showing heightened interest in Ukraine with a view to opening banks in our country.

In the course of the meeting, the sides discussed the foreign exchange policy pursued by the National Bank of Ukraine and pointed out to the fact that the exchange rate was currently in line with the of the balance of payments and inflation and it was balanced.

"The National Bank of Ukraine uses the monetary tools to regulate this issue and minimize risks. The exchange rate is currently demonstrating volatility and there are no prerequisites for the devaluation,” noted Sergiy Arbuzov.

The Governor of the National Bank of Ukraine thanked the representatives from Germany for attending the meeting and carrying out the analysis of the situation in Ukraine and expressed readiness to facilitate efficient investment in Ukraine.

The sides agreed to continue the dialogue between the experts on different issues, in particular, the monetary and foreign exchange policy, and jointly develop the mechanisms of investment into the banking sector of Ukraine’s economy.