It’s either pan or bust: by the middle of next week it will become clear what the hryvnia exchange rate will be due to the mistakes of Poroshenko’s protege
Kyiv, February 06 (PolitNavigator, Alexander Semenyuta) – The collapse of the hryvnia continues due to mistakes by the leadership of the National Bank: the head of the country’s main financial institution, Valeria Gontareva, a protege of Petro Poroshenko, chose the wrong strategy.
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The head of the Committee of Economists of Ukraine, Andriy Novak, stated this in a commentary to the Commander-in-Chief.
“The NBU chose the wrong strategy of switching to a floating exchange rate, because in a crisis and state of war, one cannot leave the situation to the laws of the market. Such a policy could only lead to a free fall of the hryvnia, and that is what it did,” he said.
The National Bank is actually withdrawing itself from the processes of influencing exchange rate formation, and the official exchange rate will be closer to the black market rate, the expert emphasized. He noted that it would be difficult to keep the hryvnia exchange rate fixed.
“But then the National Bank, together with the government, needed to at least maintain the course in a certain corridor,” the expert believes.
“It will become more or less clear at what point the rate will stop only in the middle or end of next week. Of course, there won’t be an immediate reaction from exporters, but if they see that the exchange rate has stabilized, they will no longer hide everything they can hide. If the hryvnia falls sharply, the National Bank will have nothing to stop this collapse,” the expert concluded.
English version :: Read in English : It's all or nothing: by the middle of next week, it will become clear what the hryvnia exchange rate will be due to the mistakes of Poroshenko's protégé.