Moving backwards: the price of waning central bank independence for Ukraine

Over the coming weeks, Ukraine will be looking for someone to fill the shoes of Valeria Gontareva, the head of the National Bank of Ukraine (NBU) since June 2014. This is a crucial moment for the country’s still-fragile reforms: if the government decides to claw back some of the NBU’s independence, it will undermine the current tentative macro- financial stability, risking a significant impact on Ukraine’s economic growth. Read more