The Verkhovna Rada has not supported the draft resolution on the cancellation of the parliament’s decision on the adoption at second reading and as a whole of bill No. 5850 on strengthening the independence of the National Bank of Ukraine (NBU), which is necessary to fulfill obligations to the International Monetary Fund (IMF).
A correspondent of the Interfax-Ukraine agency reports the authors of the draft resolutions on the abolition of voting to substantiate their proposals by the fact that when voting for the bill, the requirements of the Verkhovna Rada regulations were violated.
As reported, the Verkhovna Rada on Oct. 19 adopted at second reading and in general bill No. 5850 on strengthening the independence of the National Bank of Ukraine. The bill was supported by 255 MPs.
“The implementation of these changes will have a positive impact on the activities and the level of corporate governance of the NBU. The interaction between the Council and the Board of the NBU will improve, the requirements for members of both of these collegial bodies of the central bank will become tougher,” NBU Governor Kyrylo Shevchenko commented on the adoption of the bill on Facebook.
He added that the law will also strengthen the financial independence of the NBU, provide the regulator with the opportunity to fully use all the tools for managing gold and foreign exchange reserves, and more efficiently and professionally perform its functions in this area.
