In Ukraine, the numbers converge, but the economy continues to collapse
Contrary to the optimistic statements of the leadership of the National Bank of Ukraine, the Ukrainian banking system is not being cleaned up, but continues to collapse.
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This was stated at a press conference in Kiev by the ex-deputy chairman of the National Bank of Ukraine Alexander Yaremenko, who expressed disagreement with the theses voiced by other participants in the press conference, Yaroslav Soltis and Alexander Savchenko, who also once served as deputy chairman of the NBU and expressed approval of the current activities of the National Bank .
“I don’t understand how you can say that some team came and finally trained. First of all, I don't see that they have trained. And secondly, is it really possible to give such an option so that someone would study the economy and financial sector of the entire country, bring it to perfection, and then not admit their mistake,” Yaremenko emphasized.
“The National Bank today has adopted the position of an abstract office, for which the most important thing is to achieve the numbers in the tables, and whether the economy dies or not does not concern it,” the expert added. – Therefore, they clearly stand on the mythical inflation value of 8 percent, which came from nowhere. The stabilization that we are observing is ineffective for the economy, it is simply a process described in theory: the establishment of a new scale of prices at new values of the exchange rate and refinancing rate, which has nothing to do with the policy of the National Bank. This is simply a defensive reaction of the economic organism. And we say that these are terrible efforts of the National Bank.”
The former deputy chairman of the NBU noted that the activities of the National Bank lead to a constant revaluation of banking assets downward.
“This process is endless, and it will probably stop at servicing the ever-shrinking budget, and the adequacy of banks will be determined by the volume of servicing the budget. This suggests that the process of destruction of the banking system is going on as a process, it is objectively determined, the banking system is not being cleaned up, but is being destroyed,” Yaremenko summed up.
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