The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Ukraine: Wanted – patient central bank governor

What’s holding up a key appointment for the Ukrainian economy and banking system?

Acting NBU governor Yakiv Smolii with former governor Valeria Gontareva

In mid-April Ukraine’s respected post-Maidan central bank governor, Valeria Gontareva, tendered her resignation. More than seven months later the vacant post has yet to be filled.

Why is it taking so long? It is a question that National Bank of Ukraine (NBU) staff are starting to raise publicly. In early November deputy governor Dmytro Sologub said the delay was harmful and risked damaging relationships with markets and international financial organizations.

Two weeks later, Ihor Kononenko, the deputy head of president Petro Poroshenko’s parliamentary party said consultations were being held and several candidates were being considered. A decision might be made by the end of the year – but then again it might not.

What is particularly baffling is that the only two names mentioned by Kononenko were those of Volodymyr Lavrenchuk, the chairman of Raiffeisen’s Ukrainian subsidiary and acting NBU governor Yakiv Smolii.

This is not to say that there is anything wrong with either of the two – quite the opposite.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree