Andriy Pyshnyy: High-Level Conference for the Governors of the International Monetary Fund Constituency

Speech by Mr Andriy Pyshnyy, Governor of the National Bank of Ukraine, at the High-Level Conference for the Governors of the International Monetary Fund Constituency on "Central Bank Independence in a Changing World", organised by the National Bank of Belgium, Brussels, 9 February 2024.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Dear colleagues,

First and foremost, I would like to thank Pierre [the Governor of the National Bank of Belgium Pierre Wunsch] and his wonderful team for the opportunity to take part in this conference and share the experience of the Ukrainian central bank.

I want to present for your professional judgment some conclusions made by myself and the National Bank of Ukraine team over the past two years. These insights have been shaped during the 716 days of the full-scale Russian war against Ukraine that takes place in our country but influences the entire world.

On 24 February 2022, as Ukrainians were jolted awake by explosions, the global order changed . This made us look at many things differently, including at the central bank's mandate and the ways of its implementation.

I could tell a lot about the NBU's experience and our mandate at the times of war. However, due to time constraints, I will focus only on key issues.