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President Volodymyr Zelenskiy is reportedly unhappy with the close contacts between the head of the National Bank of Ukraine, Andriy Pyshnyy, and the IMF. At the same time, his dismissal is not currently planned.
The president of Ukraine, Volodymyr Zelenskiy, is allegedly displeased with the head of the National Bank of Ukraine, Andriy Pyshnyy, over his cooperation with the International Monetary Fund. Bloomberg reports this, citing sources.
According to the publication, Zelenskiy considers Pyshnyy too close to the IMF and is convinced that the central bank could more actively support the Ukrainian economy during the war. One of the reasons for the source's dissatisfaction is the regulator's strict monetary policy.
Meanwhile, Bloomberg sources say that the president does not plan to dismiss Pyshnyy yet. According to them, the head of state also does not see an obvious candidate to replace him.
The National Bank denied that such issues were discussed at all. 'The issues you raised were not discussed — neither in terms of their immediate substance, nor in terms of the consequences they would have,' the NBU said.
Tensions, according to Bloomberg, intensified after the approval of a new IMF program for Ukraine worth $8,1 billion. It envisions a number of commitments, including on tax policy, which has sparked discussions domestically.
Separately in June, the IMF emphasized the importance of preserving the independence of the central bank. And in July, the NBU raised the policy interest rate due to accelerating inflation — this could also have intensified criticism of Pyshnyy.
Despite the disagreements, last month the IMF transferred almost 700 million dollars to Ukraine. Total direct budget support from international partners in 2026 year the NBU estimates at about 54 billion dollars.
As reported, the IMF proposed that Ukraine begin a gradual increase in tariffs for natural gas and electricity for the population starting from 2027 year. This recommendation is contained in the updated memorandum of cooperation between Ukraine and the IMF.
IMF transferred a new tranche to Ukraine
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