Ukrainian Central Bank: We Will Not Print Money to Fund the War

Andrii Pyshny, the governor of the Ukrainian Central Bank, revealed to the Financial Times in an interview published on Sunday that Ukraine will no longer resort to "dangerous" cash financing to cover the costs of the war against Russia. He added that this policy "has caused significant risks to macro-financial stability" when the bank had to print billions of Ukrainian hryvnias to cover the budget deficit last year. He noted that an "open conflict" with the government on this issue has been resolved. He told the newspaper: "It was a quick fix (printing money), but it is extremely dangerous."