The corona crisis is the first crisis in the history of Ukraine with none of the following: bankruptcy of banks spike in inflation catastrophic decline in international reserves long lines near ATMs. Unlike in previous crises, the banking system today is not a burden for the economy, but rather its lifeline.
We are not saving the banking system – the banking system is saving the economy. All of this is the result of quick and effective actions by the NBU in response to the pandemic and quarantine measures. In doing so, we are keeping abreast with central banks in other emerging markets and the world’s leading economies.