NBU Governor Kyrylo Shevchenko has held his first meeting with German Ambassador to Ukraine Anka Feldhusen. The two discussed the importance of Ukraine’s having an independent central bank, continuing cooperation with its international partners, including the IMF, improving corporate governance at the state-owned banks, and expanding cooperation between Germany and Ukraine.
“The operation of the central bank under your governance has made a good initial impression on us,” Feldhusen said. “It’s very important that you’ve remained committed to the central bank’s consistent policies, and are defending its independence. After all, the independence of a central bank is important for the economy, the people and the country as a whole.”
“I think that the first month of the NBU’s operation has clearly shown that the central bank has remained consistent with its policies,” Shevchenko said. “In late July, the NBU left the key policy rate unchanged, at 6%. The NBU will also remain committed to the inflation targeting and flexible exchange rate regimes.”
Shevchenko also said that improving corporate governance at the state-owned banks was one of the central bank’s priorities.
“I’m convinced that a reliable corporate governance system is good for the quality of a bank’s assets and its profitability,” Shevchenko said. “That is why the NBU is holding meetings with the supervisory boards of the state-owned banks and discussing ways to improve corporate governance and resolve the issue of nonperforming loans. We have a lot of joint work ahead of us.”
Shevchenko and Feldhusen also discussed strengthening cooperation between Germany and Ukraine, including through the exchange of experience in ensuring a country’s sustainable development, and engaging in green banking.