Nationalization of Privatbank will not affect inflation or hryvnia rate, - NBU Head Hontarieva

The National Bank of Ukraine denies possible price increase and hryvnia depreciation caused by the nationalization of Privatbank.

This was announced by NBU Head Valeriia Hontarieva at a news briefing Monday morning, Censor.NET reports.

"Neither inflation, not hryvnia rate will be affected by this," she said.

Read more: Privatbank becomes 100-percent state-owned, - Cabinet of Ministers

Hontarieva stressed that the NBU reserves total $15.5 billion, which is enough for leveling hryvnia rate fluctuations.

On Dec. 18, the Cabinet of Ministers announced its decision to nationalize Privatbank, the largest privately-held bank of Ukraine. The government intends to issue 30-year domestic government loan notes worth 150 billion hryvnia ($5.54 billion) and become a 100-percent owner of the bank. The bank's first deputy CEO announced the decision was made after an unprecedented information attack on the bank and a threat it posed to its clients. The bank's leadership assured the clients their savings will be safe, naming it the key condition in the talks. In his turn, Minister of Finance Oleksandr Danyliuk confirmed the clients' money will be safe and protected by the state. Due to the nationalization procedure, Privatbank halted corporate transactions for one day, till 9 a.m. Dec. 20.Источник: https://censor.net.ua/en/n419948