According to a source «Glavkom» Kirill Shevchenko can successfully solve the issue of lending and works on the principle of "do no harm".
On July 16, the Verkhovna Rada supported the candidacy of Kyryl Yevhenovych Shevchenko for the position of the head of the National Bank of Ukraine by 332 votes.
To this day, Kirill Shevchenko has held the position of Chairman of the Board of the state-owned Ukrgasbank.
According to Viktor Tregubov (Democratic Axe): In fact, Shevchenko was supported by all factions except the Voice and the EU. This is possible in Ukraine only with an oligarchic consensus. It remains to be seen what were the terms of this consensus (League).
The new head of the NBU is 47 years old, 25 he works in the financial sector.
He was born in Tula (Russia), in the family of a miner and a journalist. Then he moved with his parents to Stakhanov (Luhansk region). Kyrylo Shevchenko graduated from Kharkiv University of Economics with a degree in accounting. He worked as an economist in the Kharkiv branch of the Ukrainian Credit Bank (now A-Bank), then in such banks as Aval and Finance and Credit.
From 2006 to 2009 he was the first head of the State Mortgage Institution. From May to September 2009, he was an adviser to Yulia Tymoshenko, then Prime Minister of Ukraine.
Then he became the first deputy chairman of the board of JSB "Ukrgasbank". In 2011, Kyrylo Shevchenko was the Chairman of the Board of PJSC Ukrainian Strategic Group, the Chairman of the Board of PJSC SKPD.
In 2012 he became an advisor to the secretariat of the chairman of Oschadbank, and in 2014 he returned to Ukrgasbank and in 2015 was elected chairman of its board.
Where does the new head of the NBU live and how much does he earn?
According to Kirill Shevchenko’s declaration, it is known that he lives in the village of Zabirya, Kyiv-Sviatoshynskyi district. The declaration states two plots of land in this village — with an area of 2500 and 308 square meters. m. However, the owner of this property is another person — Alipova Valentina. And Kyrylo Shevchenko and his wife Yulia Shevchenko have the right to free use and accommodation.
Even in the declaration of Kirill Shevchenko indicated an apartment in Kiev with an area of 72 square meters. m (estimated value of 11.5 thousand UAH) and some "other household", also in Kiev, an area of 280 square meters. m (worth UAH 963,050), which are also recorded for Valentina Alipova.
The NBU chairman and his wife own an apartment in Kyiv with an area of 304 square meters. m and two parking spaces. The couple also has a plot of land in Feodosia (Crimea) with an area of 1200 square meters.
Kyrylo Shevchenko also declared three cars: a 2012 Mercedes-Benz, a 2013 Range Rover and a 2016 Peugeot. He also owns the Super Air Nautique G23.
Kirill Shevchenko's salary last year in Ukrgasbank amounted to UAH 14.6 million. And together with other payments related to Ukrgasbank — trade union, insurance, additional benefits, interest on deposits, etc. — the banker's income amounted to UAH 15.4 million.
Again, according to the declaration, Kyrylo Shevchenko entrusts his money only to Ukrgasbank. There he opened 5 UAH and 4 currency accounts, in the amount of about 870 thousand UAH and more than 167 thousand Euros.
How will the NBU policy change?
However, the head of the NBU is interesting to Ukrainians not so much for his career success and ability to earn, as for the policy he is going to pursue in his post. However, very little was learned about this on the day of the appointment. During his three-minute speech at the parliamentary rostrum, Kyrylo Shevchenko managed to talk only about his attitude to currency targeting. When he started talking about how he was going to solve the problem of "bad loans", time passed, and the speaker of parliament refused to give him extra time.
However, the first statements of Kirill Shevchenko can be concluded that he will try to change the policy of the NBU.
«The economy is starting to break the restrictions during quarantine. But it continues to stagnate. I want to focus on the concrete steps that the National Bank can take in this situation. Of course, I support the NBU's policy aimed at ensuring macroeconomic and macrofinancial stability of the banking system. In order to achieve the goal of macroeconomic stability and sustainable development, the inflation targeting tool has already shown its effectiveness ... But in the current conditions, this tool must meet not only macro-financial stability, but also create conditions for further economic growth, «said Kyrylo Shevchenko.
From this speech we can conclude that the policy of inflation targeting is undergoing some changes. To understand which ones, it is worth remembering what inflation targeting is.
Inflation targeting - is a type of monetary (monetary) policy, the main purpose of which is to keep inflation, or consumer price index, at a certain level or in a certain corridor. In addition to inflation targeting, there are other types of monetary policy, such as price orientation, a stable exchange rate as a goal (this method was used in Ukraine until 2015), and so on.
From what Kirill Shevchenko said, it follows that the National Bank is not going to abandon inflation targeting in favor of other "anchors". However, as for the "size" of its goal, ie the level of inflation, it can be revised. And if we recall the accusations against Yakov Smoliy, revised upwards.
Another problem, the solution of which is expected from the National Bank and which Kyrylo Shevchenko started talking about in his speech, is more active lending to the economy. Here, the influence of the National Bank is limited and depends on many other factors, including the trust and expectations of society. However, the National Bank is able, simply put, to "saturate banks with money" for lending. Why do you need to "turn on the printing press", ie to conduct an additional issue of money.
More details in the source «Glavkom«.
The representative of the “Democratic Axe”, Anton Shvets, believes that very little is known about Kyryl Shevchenko, except that he may have good relations with Yulia Tymoshenko and the Batkivshchyna faction. Because of this, the consequences of his appointment may be unpredictable.