NBU: Cyprus crisis has not affected investment and deposits (Kyiv Post)
The Cyprus crisis has not affected the inflow of foreign investment to Ukraine, the deputy director of the general department for monetary and credit policy at the National Bank of Ukraine (NBU), Oleksandr Arseniuk, has said. “As of today, we do not see any negative factors [in the field of investment] related to the situation in Cyprus. I hope we won’t see any,” he told reporters on Tuesday. “There is no outflow of deposits [from Ukraine],” he added. However, he noted that even in the crisis year of 2008 Ukrainian authorities did not consider the possibility of resolving debt problems using confiscatory measures. “I see no reason for reducing confidence in Ukrainian banks,” said the official. As reported, Cyprus succeeded in avoiding an uncontrolled default, agreeing on financial aid from the European Union and the International Monetary Fund. In exchange for the aid, Cyprus will reduce its banking sector, imposing a tax on large deposits in Cypriot banks.
