Ukraine's leading English-language newspaper since 1995

Serhiy Tihipko, the ex-governor of the NBU The hryvnia could be stable or even strengthen compared to foreign currencies if Ukraine succeeds in preventing political factors influencing the refinancing policy of the National Bank of Ukraine (NBU), according to Serhiy Tihipko, the ex-governor of the NBU.

"If there is no political fraud, the hryvnia could be stable or even strengthen," Tihipko said at a press conference in Lviv.

Tihipko said an example of political fraud was the refinancing by the NBU of a number of banking structures in autumn 2008. According to Tihipko, this occurred when the NBU did not monitor the banks to which it issued large sums of money for refinancing, and these sums "heated the currency market."

"This can be described as unprofessional or as a political fraud," Tihipko said.