Press release: NBP-NBU swap agreement
The Press Office of Narodowy Bank Polski announces that Narodowy Bank Polski (NBP) and the National Bank of Ukraine (NBU) have agreed to establish a zloty/hryvnia currency swap line. The agreement covers swap transactions of up to PLN 4 billion.
The aim of the swap agreement is to support actions undertaken by the NBU to stabilise Ukraine’s financial system. As a result, NBP joins the group of central banks, countries and international financial institutions that support the Ukrainian reform programme.
“The currency received from the swap will be used to increase international reserves of Ukraine which have already doubled since the beginning of 2015, mostly owing to the support of our international partners,” said the Governor of the National Bank of Ukraine, Ms Waleria Hontareva.
“By signing this agreement Poland has joined a group of countries and international organisations that actively support the ambitious programme of economic reforms in Ukraine. The swap agreement signed between NBP and the NBU should increase confidence in Ukraine’s economy and lower the risk of financial turbulence, which could have a negative impact on the economy of the whole region, including Poland,” said the NBP President, Mr Marek Belka.
Narodowy Bank Polski recognizes the changes that have occurred in Ukraine. They create foundations for a programme of deep economic reforms that will allow stable economic growth of this important partner and neighbour of Poland. The agreement constitutes one of the pillars of cooperation between Poland and Ukraine.