{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Ukraine’s central bank governor quits' data-url='/boclips/videos/6878e7a6859c693875d0f2da' data-video-url='/boclips/videos/6878e7a6859c693875d0f2da' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nUkraine’s central bank governor quits\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eUkraine’s Central Bank governor has quit.  Valeria Gontareva’s resignation is a blow to reform plans for the former Soviet country’s battered corruption-plagued economy.  Her tough anti-crisis moves reduced inflation – which at one stage...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eUkraine’s Central Bank governor has quit. \u003cbr/\u003e\u003cbr/\u003e Valeria Gontareva’s resignation is a blow to reform plans for the former Soviet country’s battered corruption-plagued economy. \u003cbr/\u003e\u003cbr/\u003e Her tough anti-crisis moves reduced inflation – which at one stage had hit 60 percent – and stabilised the currency, the hryvnia. \u003cbr/\u003e\u003cbr/\u003e They included shutting down half of Ukraine’s lenders and switching to a flexible exchange rate.\u003cbr/\u003e\u003cbr/\u003e But the reforms also brought death threats and a hate campaign by some lawmakers and local businessmen. In early March a coffin with her face on it was left outside the central bank headquarters.\u003cbr/\u003e\u003cbr/\u003e Gontereva had criticised the government’s failure to prosecute private bank owners she accused of corruption and money laundering. \u003cbr/\u003e\u003cbr/\u003e As she announced her resignation, she alleged that 16 billion hryvnias (562 million euros, $594 million) had been withdrawn from PrivatBank the night before it was taken over by the state, and the bank therefore now needs additional recapitalisation.\u003cbr/\u003e\u003cbr/\u003e  National Bank of Ukraine Head Valeria #Gontareva tenders her \u003ca href='https://t.co/i1VWlcT6uP' target='_blank' rel='nofollow'\u003eresignation\u003c/a\u003e— NationalBankUkraine (@NBUkraine) April 10, 2017\u003cbr/\u003e\u003cbr/\u003e The former investment banker and business partner of President Petro Poroshenko has been praised by investors and the International Monetary Fund, which is propping up Ukraine with billions in bailout loans.\u003cbr/\u003e\u003cbr/\u003e Her resignation weakens the president and his reform efforts. \u003cbr/\u003e\u003cbr/\u003e Warning\u003cbr/\u003e\u003cbr/\u003e Gontareva stressed on Monday that her departure would not change central bank policy or the make up of its board in the near future, and she emphasised the importance of continued cooperation with the IMF to guarantee stability and keep the hryvnia steady.\u003cbr/\u003e\u003cbr/\u003e But she left with a final warning, calling for the central bank to stay independent and told reporters: “I believe that resistance to changes and reforms will grow stronger now.”\u003cbr/\u003e\u003cbr/\u003e Jerome Vacher, the IMF’s representative to Ukraine, said it was critical that her replacement should be of high professional quality and independence.\u003cbr/\u003e\u003cbr/\u003e Latest to go\u003cbr/\u003e\u003cbr/\u003e Gontareva’s departure as head of the National Bank of Ukraine leaves Poroshenko with one fewer ally in power at a time when lenders already question his ability to follow through on promised reforms. \u003cbr/\u003e\u003cbr/\u003e It nearly completes an exodus of reformers who were appointed after Poroshenko’s pro-Western administration took charge following the Maidan street protests in 2013/2014.\u003cbr/\u003e\u003cbr/\u003e Other reformers who quit or were pushed out include Economy Minister Aivaras Abromavicius and the head of the national police.\u003cbr/\u003e\u003cbr/\u003e Poroshenko’s problems\u003cbr/\u003e\u003cbr/\u003e Glib Vyshlinsky, executive director of the Center for Economic Strategy, said Ukraine faces a difficult future as it has to service nearly $13 billion (12.3 billion euros) of external debt.\u003cbr/\u003e\u003cbr/\u003e “If Gontareva leaves and her post will be taken by someone weaker and more controlled by different interest groups, this will mean that the ability to finance these payments without default and without threats to financial stability will decrease,” he said.\u003cbr/\u003e\u003cbr/\u003e “This will be quite a serious risk for Poroshenko’s re-election in 2019 as well as for gaining control in the parliament.”\u003cbr/\u003e\u003cbr/\u003e  A very positive opinion on Ukrainian Central Bank chief #Gontareva from #\u003ca href='https://t.co/bwBA0SngTA' target='_blank' rel='nofollow'\u003eFT\u003c/a\u003e— Anna Levchuk (@anna__levchuk) March 27, 2017\u003cbr/\u003e\u003cbr/\u003e  Govenor of National Bank of Ukraine, #Gontareva: The era of zombie banks in #Ukraine is \u003ca href='https://t.co/M8sq81R3lv' target='_blank' rel='nofollow'\u003eover.\u003c/a\u003e— Ariana Gic (@GicAriana) April 8, 2017\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead 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