The dismissal of Volodymyr Stelmakh, the Ukrainian National Bank chief, will not positively influence the currency rate dynamics, former NBU governor Serhiy Tihipko has said.
“Yushchenko will not rescue the hryvnia by dismissing Stelmakh. The
president is no less responsible for the national currency’s
devaluation than the NBU governor,” Tihipko said, commenting on
President Yuschenko’s declared readiness to dismiss the NBU head in
response to the emission policy of the Cabinet of Ministers.
“Yushchenko should have abandoned unconditionally protecting
Volodymyr Stelmakh as early as autumn 2008, when the hryvnia saw its
maximum devaluation. If state interests were more important for the
president than personal ambitions, then we would have a more stable
national currency now, confidence in tomorrow and economic growth,”
Tihipko’s press service reported on Friday.
According to Tihipko, Ukraine has broken all records for national
currency devaluation, GDP falls and rises in prices due to the world
economic crisis and domestic political crisis.
