Savtschenko Alexander

Date of Birth: 04.05.1958

Place of Birth. Education. Born on May 4, 1958 in Snamenka, Kirovohrad Region. Graduate of the Kyiv Institute of National Economy (now Kyiv National University of Economics named after V. Hetman) with a degree in 'Industrial Planning'.

Career. From 1981 to 1991, he taught and conducted research at the KNEU, Kyiv Mohyla Academy, Harvard University (USA), and London School of Economics (England).

1991-1993 - Professor at the Kyiv Institute of National Economy, Deputy Chairman of the National Bank of Ukraine, Director of the Center for Market Reforms of Ukraine, Professor at the Department of Economics of the National University 'Kyiv Mohyla Academy', Managing Director of the European Bank for Reconstruction and Development.

During his tenure as Managing Director of the EBRD in London, he was the first Ukrainian citizen entrusted by representatives of several governments, such as Romania, Moldova, Georgia, and Armenia. During his time at the EBRD, more than 20 projects were financed with a funding of over half a billion dollars. These included projects such as the reconstruction of Boryspil Airport and a credit line for small and medium-sized enterprises amounting to 120 million dollars.

1996-1997 - Advisor to the Prime Minister of Ukraine on social affairs.

1997-1999 - Chairman of the Supervisory Board of Bank Austria Creditanstalt Ukraine, whose founding he initiated together with Aval Bank and the International Finance Corporation. Under his leadership, this bank was recognized as the best foreign bank in Ukraine in 1998.

1999-2005 - Chairman of the JSC 'International Trade Bank'.

2005-2009 - Deputy Chairman of the National Bank of Ukraine under Volodymyr Stelmach. Alexander Savchenko was responsible for the overall leadership and control of the Foreign Exchange Control and Licensing Department, as well as risk management and project management of international credit lines at the National Bank. During his time as Deputy Chairman of the National Bank of Ukraine, he developed the foundations for the new monetary policy, opened the first correspondence account of the National Bank with a Western bank, and prepared the first intergovernmental loan agreement. On September 15, 2009, he was dismissed from his position as Deputy Head of the NBU. Alexander Savchenko submitted his resignation because he 'disagreed with the currency, monetary, and credit policy implemented by the leadership of the National Bank of Ukraine, which led to destabilization of the exchange rate, a decline in gross domestic product, and an increase in the number of insolvent banks.'

Chairman of the Ukrainian National Committee of the International Vienna Council - a pan-European organization established for new initiatives for cooperation between East and West.

In September 2009, he was appointed Deputy Minister of Finance of Ukraine. In March 2010, he resigned and became the head of the International Institute of Economics.

Views and Assessments. Alexander Savchenko, who served exactly four years in office, is known for his opposition to the leadership of the NBU. In March, he was relieved of his main duties, which observers believe demonstrated his resistance to the bank's management. Alexander Savchenko called for limiting banks' capabilities to curb currency speculation by taking away the banks' ability to buy and sell foreign currency with their own funds.

Awards. Doctor of Economics, Professor.

Research Activities. Author of more than 400 articles on economic and banking topics.

Books by the Author: 'Economic Methods for Managing Innovation Processes' (1990), 'Efficiency of Innovation Processes in Mechanical Engineering' (1988), 'Independence Balance. Chronicle of Economic Reforms' (1998–2005), '25 Years: Testament of Ukraine's Independence' (2017) (A. Savchenko, L. Lukyanenko, I. Drach), 'Antimaidan or the Will to Fight, to Defeat or to Betray' (2017).

Social Activities. Was a member of the Central Council of the People's Movement of Ukraine; in 1990 he ran for the Ukrainian parliament. President of the Foundation for the Development of Banking and Finance.

Family. Alexander Savchenko is married. He has a daughter, Nadezhda, and a son, Vladimir.

04.05.2022