President Volodymyr Zelensky received an unexpected resignation letter from the governor of the Central Bank of Ukraine, Kirillo Shevchenko, claiming health issues.
“I made a tough decision due to health difficulties that can no longer be disregarded,” Shevchenko, 49, said in a statement released by the National Bank of Ukraine on Tuesday night.
He continued, “I thank the President of Ukraine for the faith he has shown in me and the work we were able to do together both before and during the war.
He claimed that despite Russia’s invasion of Ukraine, the country’s financial system continued to operate normally.
According to media sources, a dispute between the Central Bank and the Ministry of Finance has recently gotten worse.
Due to ongoing budget shortfalls, Shevchenko, who assumed office in July 2020, advocated for saving. He also expressed concern about Ukraine’s approach to hyperinflation and the fact that the central bank was already creating currency to pay the government.
Half of the budget in the present design for 2023 must be covered by borrowing.
It is significant that, since since Russia started its war in February of last year, the majority of the Ukrainian budget, including military spending, has come from Western nations.
The European Union has signed a memorandum of understanding to give Ukraine further macro-financial aid worth 5 billion euros, according to announcements made by Brussels and Kiev on Monday.
Unexpected resignation of Ukraine’s Central Bank Governor
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