Ukraine central bank official resigns

Article reports that a corruption investigation and a high-level resignation are threatening September 2009 to plunge Ukraine’s central bank into turmoil, undermining Kiev’s ability to stabilise its currency and pull out of a deep recession.

Oleksandr Savchenko, deputy head of Ukraine’s National Bank, the central bank, resigned on the 11 September 2009, accusing colleagues of pursuing failed monetary policies and of co-conspiring in `currency speculation' deals that broke trust in Ukraine’s hryvnia, causing it to plunge more than 10% in the previous few weeks.