Profile: Ukraine Central Bank governor Serhiy Arbuzov

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May 28, 2012, 1:55 p.m. | Ukraine Politics — by Reuters


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Position: Chairman of the National Bank of Ukraine

Incumbent: Serhiy Arbuzov Date of Birth: March 24, 1976

Term: Appointed in December 2010. Tenure determined by the president.

Key facts:

- Arbuzov comes from Donetsk, the home region and power base of President Viktor Yanukovich.

- Arbuzov's mother Valentina Arbuzova, an experienced banker, is the chief executive of a private bank owned by Yanukovich's son, Oleksandr Yanukovich.

- Under Arbuzov, the central bank has continued the policy of maintaining hryvnia exchange rate stability, burning some of its reserves to support the currency when it came under pressure.

- Arbuzov rarely speaks to the media but regularly posts videos discussing latest economic indicators and central bank policies on the bank's website

- As Yanukovich sought to boost the slowing economy by a $3 billion spending package this year ahead of parliamentary elections, Arbuzov's central bank also softened its monetary policy, cutting the key rate for the first time since mid-2010.
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