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4. Fill in appropriate prepositions, translate the phrases and make up sentences of your own.

1) the creation ____, 2) to stem _____, 3) according____, 4) to consist ____, 5) to be elected ____, 6) to be adopted ____, 7) to be divided_____, 8) to suffer ______.

5. Match the Governors of the National Bank of Ukraine with the periods of their ruling. Find some more information about these people .

Since the Banks' establishment, the following politicians were the Governors of the National Bank of Ukraine:

Volodymyr Stelmakh

1992

Vadym Hetman

1993–1999

Serhiy Arbuzov

2002–2004

Sergiy Tigipko

2004–2010

Volodymyr Matvienko

2000–2002

Volodymyr Stelmakh

2010–2012

Viktor Yushchenko

1991–1992

6. Choose the best alternative from the box below to complete the text. History of the nbu

Prior to the (1)… of the USSR, the National Bank of Ukraine was a branch of the Central Bank of the USSR. Officially, the National Bank of Ukraine acted as the (2)… Bank of Ukraine since early 1992. Like institutions of many newly independent nations, it (3)… dire financial straits during the 1990s, leading to a (4)... period of hyperinflation. On March 20, 1991, the Verkhovna Rada of Ukraine (5)… the resolution "On Banks and Banking (6)……", which became Law on May 1. The (7)… Bank of Ukraine was resolved to be created (8)… the basis of the Ukrainian Republican Bank of the State Bank of the USSR.

Notes: to face dire financial straits - зіткнутися з важким фінансовим становищем

1

a) destruction

b) collapse

c) problem

2

a) saving

b) investment

c) central

3

a) faced

b) meet

c) saw

4

a) progressive

b) advanced

c) prolonged

5

a) adopted

b) select

c) picked

6

a) action

b) activity

c) auction

7

a) national

b) central

c) independent

8

a) for

b) at

c) on

7. Complete the following sentences with the appropriate words in the box.

structure measures currency rate stable statement claimed

In 2008 the former Prime Minister of Ukraine Yulia Tymoshenko has officially made a (1) … on the indictment against the National Bank of Ukraine, which (2)… that the Bank does not maintain a (3)… hryvnia exchange (4)…, but rather holds the machinations of the national (5)…. Petro Symonenko, the leader of the Communist Party of Ukraine, said that the National Bank is the largest Mafia (6) … in the country. He also insisted on the need to take drastic (7)… to change this situation.

Notes: indictment – обвинувачення drastic - кардинальний

Speaking

  • In your opinion, are there any drawbacks in the policy of the NBU?

  • If you were the Head of the NBU what would you change or improve?

_______________________________

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