Parliament extends tenure of central bank head PDF Print E-mail
Friday, 09 July 2010 15:52

The Ukrainian Parliament has passed a bill in its second and final readings amending the law (No 6659) on the National Bank of Ukraine, extending the tenure of NBU governor by two years and, in so doing, up to seven years in total. It was supported by 256 out of 430 MPs registered in the session.

 

In addition to extending the tenure, the bill amends the principle of appropriation of profit and the professional qualifications required of NBU management. It also suggests that the bank focus on keeping inflation at bay.

 

The bill was originally submitted to Parliament by President Viktor Yanukovych as part of agreements between Ukraine and the International Monetary Fund, the Interfax-Ukraine news agency reported today. The current NBU governor is Volodymyr Stelmakh. Member of the parliamentary opposition have insisted that Stelmakh leave his post as his tenure expired in 2009.

 

 
 

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