Expert Round Table Discussion on Monetary Policy in Ukraine
Together with the Razumkov Centre and the International Institute of Business Friedrich Naumann Foundation for Freedom Ukraine on 29th September facilitated an expert round table discussion on monetary policy and monetary reform in Kyiv.
Obviously, monetary reform is a key sphere when looking at how Ukraine is moving forward. This is why the debate was a timely step in understanding current and debating future arrangements.
Monetary policy is always highly exposed. The rate of inflation, the exchange rate for the Hryvnia, bank interest – these are all markers in the daily life of all citizens, as well as for potential investors and creditors.
The more open and clear decision-makers communicate, the less prone will their decisions be to populism.
Some discussants recalled in that context how growth is a pre-requisite for the longer-term acceptance of structural reforms, and emphasized that growth and macroeconomic stability depend on many more factors than monetary policy.
One key concern mentioned was the provision of credit by the banking sector as it stands for the majority of financial intermediation in Ukraine. This concern is well-founded, since the functioning of the banking sector is essential for any sustained economic recovery.
It is our hope that the expert discussion will make a small contribution to sustained economic recovery as well as to further economic development and growth – and of course to the wellbeing of the Ukrainian people overall.