Politicians and courts put pressure on Ukrainian central bank

Yakiv Smolii
NBU governor Yakiv Smolii

Ukraine’s central bank is fighting several legal battles and facing strong political pressure over its role in nationalising the country’s largest domestic lender.

PrivatBank was nationalised by Ukraine’s government in December 2016 after the National Bank of Ukraine reported that its supervisors had found massive fraud at the bank. The NBU’s then-governor, Valeria Gontareva, told Central Banking that the bank’s owners had looted its assets. A forensic audit commissioned by the NBU strongly

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