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Governor of the National Bank of Ukraine Kyrylo Shevchenko Submits His Resignation

Governor of the National Bank of Ukraine Kyrylo Shevchenko Submits His Resignation

Today, Governor of the National Bank of Ukraine Kyrylo Shevchenko has submitted to the President of Ukraine his letter of resignation.

"Due to the health-related issues that cannot be ignored any longer, I made a difficult decision.  

I am resigning from my position as the NBU Governor.  

I have submitted my resignation letter and asked the President of Ukraine to accept it. I thank the President of Ukraine for the vote of confidence and the work we were able to do together before and during the war. 

Since my first days of office, I had to act primarily as a crisis manager and I fulfilled my mission by ensuring the uninterrupted operation of the financial system during the extremely difficult times of a full-scale war. 

The war was yet another difficult test for our team and for me personally. I think we have passed it with dignity.  

Since the start of the full-scale war, the NBU has: 

  • ensured the uninterrupted operation of the financial system  
  • prevented panic in the FX market   
  • put a stopper on large-scale capital outflows to protect international reserves 
  • kept inflation at the adequate level during the war 
  • supported the state budget, understanding the difficulty of raising money elsewhere during the war.  

Our efforts at the international level also should not go unnoticed. We have spurred on international financial aid for Ukraine, but also initiated a number of decisions at the international level to weaken the economy of the aggressor state. 

Today, the NBU is stronger than ever in its ability to meet challenges and overcome crises, and is passing the test of war in a dignified manner. The central bank continues to serve as the foundation for economic recovery in the post-war period, and retains the ability to steer the entire financial sector towards this goal. 

Those who will come after me will find the banking system strong, well-capitalized, and resilient. I hope that it will stay that way in the future. 

I am grateful to the NBU team, who went through the most difficult trials in the history of independent Ukraine. I am proud to have worked with you. 

I am grateful to my colleagues working in the financial market.  Together we were able to keep the banking system operational during the war, providing Ukrainians access to financial services and ensuring financial stability despite the most difficult circumstances. 

Ukrainians and our international partners at all levels know and value this. 

I want to thank our international partners for cooperation and unwavering support of our country and its financial sector during these times of need. 

I am also grateful to the colleagues from the Parliament, government, and other state authorities for cooperation and joint efforts that were beneficial for the financial system and country as a whole", said Kyrylo Shevchenko.

The current NBU Board will continue to carry out its duties and manage the NBU’s operation until the Parliament of Ukraine approves the decisions on dismissal and appointment of the new governor.

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