Andriy Pyshnyi, Governor of the National Bank of Ukraine (NBU), has been recognized and awarded The Banker Central Banker of the Year by The Banker, a globally recognized financial publication.

According to the compiler of the rating, The Banker annually awards this prize to the heads of central banks who have most effectively ensured the stability of their country's economy and contributed to its development.

In its report, the publication recognized the significant achievements of the National Bank of Ukraine under the leadership of Andriy Pyshny, among which is the preservation of the country's economic stability despite the military conflict with Russia.

For example, confidence in the hryvnia has grown, with term deposits of individuals in the national currency increasing by 28% in 11 months of 2023. There was also an almost twofold increase in borrowing on the domestic debt market.

Other important achievements include a sharp decline in inflation from 26.6% to 5.1% over the same period, as well as a shift from a fixed exchange rate to managed flexibility, which led to a narrowing of the spread between cash and non-cash market rates.

The successful negotiations with the International Monetary Fund to launch a new four-year EFF Extended Fund Facility program and its successful implementation during the year were also mentioned.

In addition, the Power Banking initiative was noted, which allowed banks to continue operating in the face of prolonged power outages.

Andriy Pyshnyi was appointed to the post of NBU Governor in 2022, bringing 17 years of experience in the banking system, where he made a significant contribution to the development of the banking sector, particularly at Oschadbank. His leadership at Oschadbank led to one of Ukraine's largest victories in international arbitration with Russia over Oschadbank's assets in Crimea, worth $1.3 billion. Currently, Andriy Pyshnyy is also actively involved in the international sanctions group Ermak-McFaul.