Tomas Fiala explained that such independence of the national Bank
All developed countries have prescribed in their laws – the national Bank should be independent from politicians.
About it in the Studio socio-political talk show “Freedom of speech Savik Shuster” , which comes out in live TV channel “Ukraine,” said Tomas Fiala, CEO of Dragon Capital investment company.
“The elected politicians in Western countries – 4 years. In Ukraine is five years. Politicians like to spend more money from the budget than revenues. There is a deficiency. The deficit must somehow be financed. If the market investors do not give money, the policies put pressure on the national Bank to print money and Finance the deficit,” he said.
Fiala stressed that the developed countries with the investment rating can afford a couple of years, is it without consequences for inflation and devaluation
“Ukraine today with its rating can’t afford to print more money and Fund in this way, the budget deficit,” – he concluded.
Recall that the independence of the NBU is one of the requirements of international financial partners of Ukraine. And after the appearance of the application Smoliy the ambassadors of the countries “Big seven” urged the Ukrainian authorities to preserve the independence of the NBU.
Economic impact statements Jacob Smoliy resignation not long to wait. The next day the dollar exchange rate soared above 27 UAH, which was not since the panic of coronaries. The Finance Ministry canceled a bond offering 1.75 billion dollars.