Chairman of VR’s Banking Committee Sergei Rybalka should be held responsible for the hryvnia depreciation and the high inflation rate the same as NBU Governor Valeria Gontareva.
The financial expert Viacheslav Lebid expressed such opinion to the First Business Channel. He reminded that Sergei Rybalka became the head of the VR’s Finance and Banking Committee in December 2014, when the dollar rate did not exceed 13 hryvnias. During his tenure as the Chairman of the Committee, the hryvnia depreciated twice, UNN reports.
“If we speak about those officials, responsible for the banking system, financial system, depreciation of the national currency, for this crazy inflation, which, within several months, reached the hyperinflation level, then these are, in my opinion, three main officials. It is Valeria Gontareva, it is Head of the special-purpose committee Sergei Rybalka, and Mr. Bogdan Danylyshyn, who works as the Head of NBU Council. According to our legislation, these are three officials, who are responsible for everything”, V. Lebid said, responding to the question of First Business Channel journalists, who is responsible for the stability of national currency and the inflation rate.
According to the expert, the so-called “conflict” between NBU Governor Valeria Gontareva and Chairman of VR’s Finance and Banking Committee Sergei Rybalka is just the figment of the fantasy of journalists. In fact, V. Gontareva and S. Rybalka never conflicted, and certain pressure in their relationships was caused only by political, but not economic, moments, the expert assures.
“The controversy may occur only when the special-purpose committee creates the law, it is approved by the Verkhovna Rada and the President signs it. And this law does not satisfy the National Bank. Then this conflict is possible at the level of the head of the legislative power and the head of the executive power, if it refers to the different vision of inflation targeting or other economic things. But at the professional level, I never heard of the existence of some discussion or disputes. Probably, there was some political conflict there”, V. Lebid told the First Business Channel.
The expert also expressed regret that the head of VR’s special-purpose banking committee is the professional legal expert and metallurgist, but does not have specialized financial and economic education. In the meantime, other committee members do not have experience in finance and banking either.
“Out of 12 deputies, who are the members of this committee, 10 are the heads. It is Chairman of the Committee Sergei Rybalka, he has 4 deputies, the secretary with the authorities of the deputy, 4 heads of special-purpose subcommittees and only two – regular members of the committee. Respectively, such organizational structure, in my opinion, is not very active. And if we look at the educational background of the Committee members and their work experience, then the situation may be compared to the hospital. The invalid banking system, and the council of doctors is composed of people with non-professional education. Because, out of the total number of VR Committee members, only the third has the specialized financial education. Only the third. In the meantime, less than half of committee members have work experience in financial structures. Consequently, if we assess that council, which diagnoses the disease and prescribes treatment for the patient, then, I think that nobody would want to be that patient”, V.Lebid compared the Ukrainian economy with the seriously ill patient.
