Ukraine's leading English-language newspaper since 1995

"NBU governor should direct his efforts to strengthening independence of the NBU and the banking system as a whole", Boris Kolesnikov said. Ukrainian Deputy Prime Minister and Infrastructure Minister Borys Kolesnikov has called for the strengthening of the independence of the National Bank of Ukraine (NBU).

"The National Bank of Ukraine should be independent. The supervisory councils of the NBU are an unnecessary post-Soviet structure," he said at a press conference in Kyiv on Wednesday.

Kolesnikov promised reporters that they would soon have a chance to talk with newly appointed governor of the National Bank of Ukraine Serhiy Arbuzov and hear from him what he is planning to do to strengthen the independence of the central bank and the country's banking system.

As reported, Ukrainian President Viktor Yanukovych on Tuesday tabled a motion in parliament to dismiss NBU Governor Volodymyr Stelmakh, who has applied for resignation. He also submitted to parliament the nomination of NBU First Deputy Governor Serhiy Arbuzov to replace Stelmakh, according to a posting on the presidential Web site.