24 Jun 2022 13:01

Granting EU candidate status to Ukraine brings NBU closer to membership in European community of Central Banks - NBU governor

MOSCOW. June 24 (Interfax) - The decision to grant Ukraine EU candidate country status brings the National Bank of Ukraine (NBU) closer to membership in the European community of Central Banks, NBU Governor Kyrylo Shevchenko said.

"We see the NBU as a full-fledged member of the European community of Central Banks. Obtaining the status of a candidate for membership in the EU brings us significantly closer to achieving this goal," the Ukrainian media quoted the NBU press service as saying on Thursday.

The NBU, as the Central Bank of an EU candidate country, has much broader capabilities to pursue further reforms in line with EU standards and to develop the financial system, Shevchenko said.

Its new status requires Ukraine to fulfill its commitments in order to join the common internal market of the EU, including steps to align Ukrainian financial services legislation with EU standards and to continue the liberalization of capital movement.

Furthermore, the NBU will broaden cooperation with European institutions, will facilitate the disbursement of a new 9-billion-euro package of macro-financial assistance from the EU, and will take measures to promote closer integration between the Ukrainian and European financial markets and to open access for their players to additional international payment tools.