Defrauded depositors of credit unions during a protest outside the National Bank of Ukraine in Kyiv on Oct. 4. Academic Anders Aslund writes that central bank policies have exacerbated the nation’s financial and economie woes.
Editor’s Note: This column was originally published in Russian by Forbes Ukraine magazine at the following link. http://forbes.ua/opinions/1344648-novomu-glave-nbu-nelzya-idti-po-stopam-arbuzova. The English version is reprinted here with the author’s permission.
Most of the time, the policy of the National Bank of Ukraine has not been very beneficial for the nation and its economy, but the present policy represents a low-water mark.