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NBU governor: default not an option

"We see no reason for such development of events."

NBU governor: default not an option
Photo: Max Levin

The governor of the National Bank of Ukraine, Yakov Smoliy, has said that there are no grounds for default in Ukraine.

"We see no reason for such development of events and do not consider the default option for Ukraine at all today," he told reporters at a briefing on Thursday.

At the end of December Ukraine tentatively agreed a new $5.5bn loan programme with the IMF but has not yet fulfilled the terms of the fund. Smoliy believes that this is a temporary delay.

"The new government has confirmed Ukraine’s position on continuing cooperation with the International Monetary Fund. We have already said that there are only a few technical issues left to agree regarding the wording of the relevant laws. Of course, our basic scenario relies on continued cooperation with the IMF," he said.

Over the past year and a half, oligarch Ihor Kolomoyskyy has several times suggested that Ukraine should default.

However, the first deputy head of the NBU, Kateryna Rozhkova said in an interview with that default is for Ukraine in any case .

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