World-famous experts Stefan Ingves and David Vavra joined the group of advisers to the head of the National Bank of Ukraine on a voluntary basis. The head of the NBU, Andriy Pyshny, announced this on his Facebook page.
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“Both are powerful specialists in the economic sphere, who, among other things, have experience that is important for us in building effective interaction with international financial organizations, and understand all the subtleties and nuances of the European management system in the financial sector,” wrote Pyshny.
Stefan Ingves
The head of the National Bank said that Ingves heads the board of the Toronto centre. From 2006 to 2022 he served as head of the Swedish central bank. He also chaired the Basel Committee on Banking Supervision, the Nordic and Baltic Macroprudential Forum and the Group on Central Bank Governance of the Bank for International Settlements. He served on the board of the European Systemic Risk Board (ESRB), the Financial Stability Board and the Management Committee.
David Vavra
According to Pyshny, the National Bank owes David Vavry deep expert assistance in introducing inflation targeting in Ukraine. He was actively involved in the preparation of the Currency Liberalization Strategy, which the regulator presented in July, and the introduction of managed exchange rate flexibility.
Vavra is a managing partner of OGResearch and heads the board of the Global Projection Model Institute. He has extensive experience advising central banks and other financial institutions around the world in the areas of monetary policy, financial market development and macroeconomic forecasting.
“Their willingness to join in working with the NBU is evidence of the high level of trust that we develop with special attention. Moreover, I am sure that for international specialists this is also a very interesting professional challenge, because the NBU and Ukraine today are doing something that no one has ever done before,” said Pyshny.
The head of the NBU also recalled that the year ago I decided to rethink the format of interaction with advisors and attract high-level international specialists with deep expertise in various areas of the economic and financial sphere. Pyshny was the first to invite Yuri Gorodnichenko to join the team.
“The last 12 months have clearly shown how the internal discussion has expanded. I am grateful to Yuriy for this interaction, for his participation in expert consultations on monetary policy, for his contribution to the development of the research function of the NBU (he, in particular, is the head of the academic committee responsible for the preparation of the Annual Research Conference, as well as a member of the editorial board of the NBU Bulletin),” – noted the head of the NBU.