EU backs Ukraine central bank independence against state pressure
The European Union expects Kyiv to follow clear legal procedures when it comes to the tenure of National Bank of Ukraine (NBU) Governor Andriy Pyshnyy, Katarina Mathernova, head of the EU Delegation to Ukraine, said on Nov. 6.
The European Union has expressed support for the independence of Ukraine's central bank from state pressure, according to Katarina Mathernova, head of the EU Delegation to Ukraine. Mathernova emphasized that the National Bank of Ukraine's (NBU) governor, Andriy Pyshnyy, must adhere to legal procedures for his tenure. She stressed that the NBU's independence is crucial for financial stability and national sovereignty.
During the ongoing war, no financial instability or depositor panic was reported, as banks closed only due to power outages, not systemic issues. Mathernova praised the efforts of the Finance Ministry, government, and NBU leadership, noting that the EU remains in regular contact with all parties involved. Any actions concerning Pyshnyy must comply with existing legislation and the EU's commitment to the rule of law.
G7 ambassadors in Ukraine also convened to address concerns following Pyshnyy's remarks about political pressure. A resolution to dismiss Pyshnyy was placed on the agenda for the Verkhovna Rada's plenary session from November 9-13. Pyshnyy denied resigning due to political pressure and accused opponents of orchestrating a coordinated discrediting campaign.
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