The appointment of a new government is a signal for the stabilization of financial markets, according to the Ukrainian Credit-Banking Union (UCBU)
“UCBU favors the appointment of Ukraine’s new leadership and believes
this is a positive signal for the situation in the country to become
stable,” the union said in a statement.
The approval by parliament of the government’s financial block of
professionals will calm the foreign currency market down and ease
expectations of devaluation.
“Joint actions by the banking sector and the new government with the
National Bank of Ukraine will strengthen resistance to challenges faced
by the banking system and the national economy,” the statement says.
UCBU says investors may return to the Ukrainian market if the new
government conducts a well-balanced, transparent and predictable
economic policy and takes measures to fight corruption, balance the
state budget, liberalize conditions for doing business, and safeguard
investors’ rights.
UCBU says all these measures will help to restore households’
confidence in the banking system and stabilize the national currency
within the shortest period possible.
