22 Jan 2024 11:38

Former Swedish Central Bank governor Ingves, OGResearch managing partner Vavra appointed advisors to National Bank of Ukraine head

MOSCOW. Jan 22 (Interfax) - Stefan Ingves, Toronto Center Board chairman, who served as the Swedish Central Bank governor in 2006-2022, and OGResearch Managing Partner, Global Projection Model Institute Board Chairman David Vavra have been appointed advisors to National Bank of Ukraine head Andrei Pyshny.

"I am confident that we can do much more with your help, while your ideas and experience, in particular in cooperation with European central banks and other international partners, will become a very important resource for strengthening the stability and recovery of Ukraine," Ukrainian media quoted Pyshny as saying in a National Bank statement on a social network.

It was noted that the experts would be cooperating with the regulator "on the gratis basis."

The meeting with the international advisors focused on further cooperation, the schedules of regular meetings, current affairs, challenges and their containment.

According to the National Bank of Ukraine, besides governing the Swedish Central Bank for years, Ingves headed the Basel Committee on Banking Supervision and was a board member of the European Systemic Risk Board (ESRB), the Financial Stability Board and the Steering Committee.

Additionally, Ingves headed the Nordic-Baltic Macroprudential Forum and the Bank for International Settlements' Central Banks Governance Forum, served as director of the IMF's Monetary and Financial Systems Department, and held various positions at the Financial Stability Forum, the Swedish Financial Supervisory Authority, and the National Debt Office of the Stockholm Stock Exchange, and the Swedish Finance Ministry.

Vavra is an international consultant on monetary policy and macroeconomic forecasting, policy and program evaluation, and structural reform analysis. According to the regulator, he worked with central banks and finance ministries both at the expert level and with senior management, in particular, served as an advisor to the heads of central banks of the Czech Republic, Serbia and Georgia.

It was noted that Vavra helped implement inflation targeting in Ukraine and participated in the publication of the Inflation Report, and over time, the discount rate forecast. The National Bank of Ukraine asked for his assistance in the development and implementation of the strategy for the gradual easing of currency restrictions, the transition to greater exchange rate flexibility and the return to inflation targeting.