Ukraine leader nominates Shevchenko as new Central Bank head

Ukraine's president on Wednesday nominated Kyrylo Shevchenko, head of the state-run Ukrgasbank, to become the new governor of the central bank two weeks after his predecessor quit over what he called systematic political pressure. The sudden resignation of Yakiv Smoliy rattled markets and sparked concerns at the International Monetary Fund whose $5-billion stand-by assistance for Ukraine contingent to the central bank independence.

Ukraine's president on Wednesday nominated Kyrylo Shevchenko, head of the state-run Ukrgasbank, to become the new governor of the central bank two weeks after his predecessor quit over what he called systematic political pressure. The presidential offer has been published on the parliament site.

The nomination of Shevchenko still has to be approved by parliament. The sudden resignation of Yakiv Smoliy rattled markets and sparked concerns at the International Monetary Fund whose $5-billion stand-by assistance for Ukraine contingent to the central bank independence.