Central Bank of Ukraine's governor quits
13 April, 2017
Ukraine's Central Bank Governor Valeria Gontereva resigned last Monday without pointing out clear reasons for the move, news wires reported. Praised by investors and the IMF, Gontareva's tough anti-crisis measures saw her vilified by some lawmakers and local businessmen. A hate campaign against her included a protest leaving a coffin at her door, Reuters reminds.
Gontareva introduced sweeping reforms, including shutting down half Ukraine's lenders and switching to a flexible exchange rate. Economic growth is expected to be 2% this year, according to the IMF's forecast. Her departure comes a week after the IMF, which supports Ukraine with a $17.5bn bailout package, said that domestic politics could derail crucial reforms such as raising the pension age or lifting a ban on land sales.
A former investment banker and business partner of President Petro Poroshenko, Gontareva took charge nearly three years ago after Russia's annexation of Crimea and the beginning of a pro-Russian separatist uprising in the eastern parts of the country. Her departure nearly completes an exodus of reformers who were appointed in Poroshenko's pro-Western administration.