Page 50 - UKRRptNov22

Shevchenko resigned from the National Bank due to "health reasons"; in two days, NABU accused him of illegal actions during his tenure at Ukrgasbank. After that, Shevchenko said, for two years at the NBU, he was "under political pressure." In October 2021, Bloomberg reported that President Volodymyr Zelenskiy wanted to fire Shevchenko. Zelenskiy publicly questioned Shevchenko's performance and even said he regretted appointing him. However, Zelenskiy said back then that he had no immediate plans to replace Shevchenko.
In 2023, Ukraine’s Minister of Finance will head the World Bank’s Board of Governors and the IMF for the first time in history. The leading member countries of the World Bank Group and the International Monetary Fund have elected the Minister of Finance of Ukraine, Serhiy Marchenko, as the Chairman of the Board of Governors of the World Bank and the IMF for 2023. This is the first time this has happened in 30 years of Ukraine's membership in the two global financial organizations. The decision was made unanimously, noted the Ministry of Finance. Marchenko will also chair the annual meetings of both the IMF and the World Bank in 2023. Among the primary duties: chairing the plenary session of the annual meeting with the participation of finance ministers, governors from central banks of IMF and World Bank member countries, as well as the management of the IMF and the World Bank.
President Volodymyr Zelenskiy nominated Andriy Pyshnyi on October 6, formerly the chief executive of government-controlled lender Oschadbank and a politician, to take over from Shevchenko as governor of the NBU.
Earlier, the anti-corruption bureau said it sent a notice of suspicion in an embezzlement case to an unnamed senior official involved in an alleged scheme to siphon 206mn hryvnia ($5.6mn) from a state-run lender. Shevchenko, who resigned Tuesday citing health reasons, acknowledged the accusations and denied wrongdoing, calling the investigation politically motivated.
If approved as governor, Pyshnyi will need to tackle inflation that’s expected to surpass 30% this year, confront government pressure on the central bank to print more money to finance the war-battered budget and the struggle to reach a new long-term aid-financing deal with the International Monetary Fund. He didn’t respond to text messages from Bloomberg seeking comment.
The shareholders of Alfa-Bank Ukraine confirm their readiness to capitalise it by $1bn, however, in the event of a decision by the government
50 UKRAINE Country Report November 2022 www.intellinews.com