Today the National Bank of Ukraine hosted the 12th meeting of the Advisory Board of the central banks of the Republic of Belarus and Ukraine. The meeting was the final event of a three-day gathering of the NBU team and a delegation from the National Bank of the Republic of Belarus (NBRB) led by Deputy Chairman of the NBRB Board Sergei Kalechits.
The central bankers shared best practices and agreed to enhance cooperation between the two central banks.
“The purpose of our today’s meeting was to discuss the key issues faced by the central Banks of the Republic of Belarus and Ukraine. These issues include foreign exchange liberalization, banking supervision and payment systems. Our countries are similar in many ways, that is why we should share experience with each other rather than reinvent a yellow and blue wheel,” said NBU Deputy Governor Dmytro Sologub.
The pressing issues faced by the banking and financial industry were high on the agenda of the bilateral meeting. In particular. the meeting participants discussed monetary policy, foreign exchange liberalization, the development of the national payment systems, central banks’ performance and implementation of the recommendations of the Basel Committee on Banking Supervision, and addressed issues relating to the banking sector's exposure to systemic risks and resolving non-performing loans.
“Building on close trade and economic relations between the two countries, the central banks maintain a continuous dialogue in the banking and financial area. The central banks of the Republic of Belarus and Ukraine as the regulators of the banking markets have well-established practices for sharing experience and expertise in monetary policy, foreign exchange regulation, banking supervision and efficient methods of steering inflation toward the target. At today's meeting of the Advisory Board, participants had a constructive exchange of views, estimates and forecasts,” said Deputy Chairman of the NBRB Board Sergei Kalechits, commenting on the outcome of the meeting.
Representative of the NBU and the National Bank of the Republic of Belarus meet on a regular basis. The next meeting has been scheduled for 2018 in the Republic of Belarus.