NBU plots path out of war economy

Ukrainian central bank turns to monetary financing as government struggles to pay for war

The National Bank of Ukraine
EU and Ukrainian flags outside the National Bank of Ukraine
Oksana Parafeniuk

The National Bank of Ukraine has laid out plans for an eventual return to the normal business of central banking, but admits it is printing money to cover the spiralling cost of repelling the Russian invasion.

In a document published on April 18, the central bank said it was committed to re-establishing its inflation-targeting regime, once the Ukrainian economy and financial system resume their “normal mode of operation”.

In the short term, however, the central bank is focused on keeping the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account