ACTIVITIES OF THE NATIONAL BANK OF UKRAINE DURING WAR

Abstract

This article meticulously scrutinizes the pivotal role of the National Bank of Ukraine (NBU) amidst the backdrop of martial law, recognizing its indispensable function in assuaging the economic ramifications of warfare. Faced  with the exigencies posed by conflict, the NBU proactively implements an array of strategies and policies aimed at fortifying financial stability and fostering the resilience of the Ukrainian economy. Through a comprehensive analysis, this study delineates the dynamic shifts within the financial sector subsequent to the imposition of martial law, pivotal in fortifying Ukraine's financial landscape and navigating the challenges of war. Moreover, it meticulously identifies the principal decisions undertaken by the regulatory body to ensure the seamless operation of the banking system, adeptly adapting to the exigencies of wartime conditions. Furthermore, this research endeavors to deepen comprehension regarding the NBU's initiatives and reforms, striving to offer  insights into the institution's concerted endeavors to mitigate the deleterious impact of war on Ukraine's economic fabric. The article elucidates the regulatory framework adhered to by the financial sector since the  nascent stages of conflict, cataloging constraints such as curtailed cash withdrawals from current accounts and the suspension of currency markets. Additionally, it elucidates the multifaceted solutions devised to bolster  banking system liquidity, while delineating factors conducive to the state's adept management of its financial obligations in the midst of turmoil This article provides a thorough examination of the National Bank of Ukraine's crucial role during martial law, emphasizing its indispensable efforts in mitigating the economic consequences of  conflict.