Gontareva on Ukraine’s funding, NBU policy and reconstruction

Valeria Gontareva
Oksana Parafeniuk

When the Russian invasion began in February, there were no failures of any Ukrainian banks or in the payments system. It was striking how calm everything seemed to be in the Ukraine financial sector. But then, on June 2, the National Bank of Ukraine’s board raised the key policy rate by 1,500 basis points to 25%. How effective was this move?

Valeria Gontareva: So far, it’s the right action. But it’s only one step. We need to do a complex set of measures because if we just increase the rate, it

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