International Audit Into Ukraine's Central Bank

KIEV, Ukraine -- International auditors will probe actions taken by Ukraine's central bank during the financial crisis after the government accused it of mismanagement and corruption, a central bank official said Wednesday.

Ukraine's central bank

Premier Yulia Tymoshenko has accused bank chief Volodymyr Stelmakh of murky currency procedures that helped cause the Ukrainian currency, the hryvna, to collapse. Stelmakh has denied the accusations.

Vasiliy Pasichnyk of the central bank's regulation and oversight department said Ernst & Young had begun auditing the bank's actions from the past few months.

Stelmakh is an ally of Tymoshenko's bitter rival President Viktor Yushchenko and has struggled to hold onto his position during the crisis.

Source: Forbes

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