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Presidential Secretariat suspects of corruption

Posted by the Editor on October 31, 2008

News / 31 October 2008 | 14:10

Presidential Secretariat suspects of corruption

The central bank of Ukraine has not succeeded in stabilizing the situation at the currency market, though the last decision of the National Security and Defense Council of Ukraine provided it with instruments to resist the exchange rates fever.According to the President`s press-office, this was the comment of the top deputy President’s Chief of Staff Oleksander Shlapak on the activities.

According to O.Shlapak, the measures undertaken by the did not yield any improving result, and its methods of influence upon the banking sphere cast a grounded doubt upon their efficiency and transparency.

O.Shlapak noted that during the last days, the central bank was selling currency only to certain banks, besides, at the exchange rate less than the market one. At the same time, the majority of currency applications remained unsatisfied, which renders impossible a systematic devaluation of hryvnia. Thus, some market subjects profited while other banks suffered more and more losses literally every minute. The general situation at the currency market was deteriorating, O.Shlapak stressed.

“Over the last three weeks, the regulator spent almost US $5 billion from the country’s gold-currency reserve, but the market did not feel any positive influence from this colossal intervention, and the hryvnia exchange rate kept on falling. Probably, the central bank applied far from the best formula of distributing the means. Moreover, the criteria of distributing these huge resources remained unclear not only for the public, but for market subjects as well. It arouses suspicion of corruption component in the central bank activities”, O.Shlapak noted.



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