No more ‘dangerous’ money printing to fund war, vows Ukraine central bank chief

Ukraine's central bank governor says the country will no longer use monetary financing to fund its war against Russia, as it had created huge risks for macro-financial stability. The finance ministry has turned to other sources such as domestic bond markets and tax revenues. IMF has agreed to a $15.

March 26, 2023 . 2:58 PM

1 min read

Ukraine will no longer use monetary financing to fund its war against Russia.
Central bank governor Andriy Pyshnyy said the move had created huge risks for macro-financial stability.
The finance ministry had been unwilling to tap domestic bond markets or raise revenues instead.
IMF has agreed to a $15.6bn loan to Ukraine.
The NBU aims to soak up excess liquidity via tougher reserve requirements and gradually return to a floating exchange rate.