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Central Banks

Ukraine Central Banker Quits, Adding to War’s Economic Turmoil

  • Board to work in current form until Shevchenko departs
  • Resignation must be approved by parliament to take effect
Kyrylo Shevchenko
Kyrylo ShevchenkoPhotographer: Jason Alden/Bloomberg
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Ukrainian central bank Governor Kyrylo Shevchenko unexpectedly resigned, citing health reasons as the country battles to fend off Russia’s invasion and stabilize an economy devastated by war.

Shevchenko submitted his resignation letter to President Volodymyr Zelenskiy, according to a statement posted on the central bank’s website on Tuesday. His departure is subject to approval by parliament. Once the assembly accepts it, his first deputy, Kateryna Rozhkova, will take over as the acting governor, according to the bank’s press office.