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13:48 PM Monday, November 20, 2017
Finance
Ukrainian President to Pick Central Bank Chief by October
Ukraine will go six months without a head of its central bank
image/svg+xml Kyiv Lutsk Rivne Zhytomyr Lviv Ternopil Khmelnytskyi Uzhgorod Chernivtsi Vinnytsia Chernigiv Sumy Kharkiv Poltava Cherkasy Kirovohrad Lugansk Dnipropetrovsk Donetsk Zaporizhzhia Mykolaiv Odesa Kherson Simferopol Sevastopol Ivano- Frankivsk

About time - Gontareva resigned back in April, effective May 10. So how can it take six months to appoint a replacement in a country like Ukraine, on an IMF program, and still facing major economic challenges. Defies belief frankly.

And....."two candidates"?

The assumption was that Lavrenchuk was to be the next governor, given he is generally acclaimed as the best banker in the country, and likely most independent candidate for the job.

Remember the reason we had to wait until October for a new governor was supposed to be that Lavrenchuk was only available in September for personal reasons. So why now are they talking about two candidates?

Volodymyr Lavrenchuk, Board Chair of Raiffeisen Bank Aval, spoke last March at the launching in Kyiv of the USAID Financial Sector Transformation Project. (UNIAN/Vyacheslav Ratynskiy)

What's going on? Maybe Poroshenko is still looking to extract a bit of leverage here - maybe even with the IMF - i.e. If I give you Lavrenchuk, will you moderate other aspects of the next review to ensure an easier sign off.

Other names in the frame likely are Alex Hrytsenko, CEO of Ukreximbank.


Timothy Ash is a senior sovereign analyst for BlueBay Asset Management in London.


Ukrainian President to Pick Central Bank Chief by October: 5 TV

By Volodymyr Verbyany
(Bloomberg) -- There are 2 candidates for post, both
bankers, “independent and equally separated from political
influence,” TV station 5 reports, citing interview with Iryna
Lutsenko, president’s representative in parliament.
* Lutsenko declines to name candidates
* NOTE: 5 channel is owned by Ukrainian President Petro
Poroshenko


To contact the reporter on this story:
Volodymyr Verbyany in Kiev at vverbyany1@bloomberg.net

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