Adoption of the law to strengthen the independence of the National Bank is one of the conditions for Ukraine to fulfill its obligations to the IMF.

Verkhovna Rada passed the law number 5850, which will have a positive impact on the level of corporate governance in the NBU. According to the press service of the regulator, amendments to some Ukrainian laws regarding the activities of the NBU on Tuesday supported by 255 people's deputies.

So, the document toughens the requirements and imposes restrictions on persons appointed to senior positions in the NBU, improves the efficiency of the process of managing the foreign exchange reserve, and normalizes the issues that require adjustment due to the expansion of the functions of the National Bank in several areas.

According to the head of the National Bank, the implementation of the changes stipulated by the law № 5850 will have a positive impact on the activities and the level of corporate governance in the NBU.

“Our financial independence will strengthen, we will also be able to fully use all the tools of management of foreign exchange reserves, to perform our functions in this area more effectively and professionally,”  Kirill Shevchenko noted.