Saturday 13 September 2014

National Bank of Ukraine Chief Says No Grounds for Default | Business | RIA Novosti

National Bank of Ukraine Chief Says No Grounds for Default | Business | RIA Novosti:



"Concerns about a possible default in Ukraine are groundless, the head of the National Bank of Ukraine Valeria Hontareva said Saturday during a Yalta European Strategy (YES) forum session held in the Ukrainian capital.



"I have been working in finance for 23 years, and for all 23 years I've been hearing of a default. We started discussing it in 1995 and have been talking about it ever since then. We have a [CCC currency sovereign credit] rating, but there are no reasons to talk about a default. We will service our liabilities, including Naftogaz securities," the National Bank chief stressed.



Hontareva also added that there had been a major increase in devaluation and inflation rates of hryvna, the national currency of Ukraine."



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