Build Ukraine

back
              TYHYPKO: PROFILE OF NATIONAL BANK OF UKRAINE
                              CHAIRMAN SERHIY TYHYPKO

BBC Monitoring Service Research, UK, Apr 26, 2004


Serhiy Tyhypko

Serhiy Tyhypko, the 44-year old chairman of the National Bank of Ukraine, has frequently been identified as a possible contender for the presidency, and he has on occasion expressed his willingness to run in the October 2004 elections.

However, with opinion polls suggesting that only around 2-3 per cent of the electorate would support his presidential bid, Tyhypko has been giving signals that he will be concentrating instead on building up the party he leads, Working Ukraine, ahead of the 2006 parliamentary elections.

But Tyhypko appears to have left his options open. Though he said on 15 April that he had been one of those who suggested the nomination Prime Minister Viktor Yanukovych as the parliament-government coalition's single candidate for the presidency, he later said that this choice was only provisional and Working Ukraine would not formally endorse Yanukovych's candidacy until the end of May.

BIOGRAPHY

Born in a small village in Moldova, Tyhypko graduated from the Dnipropetrovsk Metallurgical Institute. After military service, Tyhypko devoted himself to activity in the communist youth organization (Komsomol). By the time the Soviet Union collapsed, he had risen to first secretary of the Dnipropetrovsk regional Komsomol committee.


Serhiy Tyhypko

To this day, Tyhypko tends to be associated with the Privat Group. However, he insists that he no longer has any connection with the group. In fact, Tyhypko was on paper only a minor shareholder in the group, where he served as a hired manager. The main owner of Privat Group is now recognized to be Ihor Kolomoyskyy.

In 1997, Tyhypko was appointed deputy prime minister for economic issues in the government of Pavlo Lazarenko, who also had roots in Dnipropetrovsk. He continued in this post under Lazarenko's successor, Valeriy Pustovoytenko.

During this period, the youthful and vigorous Tyhypko represented the "face of Ukrainian reforms", negotiating with the IMF and western governments, and wooing foreign investors. Meanwhile, he continued to be seen as Privat's lobbyist in Kiev.

When the widely respected former National Bank governor, Viktor Yushchenko, was appointed prime minister in late 1999, Tyhypko was moved to the post of economics minister in an apparent demotion.

Tyhypko soon clashed with Yushchenko's deputy prime minister for fuel and energy, Yulia Tymoshenko, over her energy market reforms, which were said to harm the interests of Privat and other major players. Yushchenko backed Tymoshenko, and Tyhypko quit the government in Spring 2000.

Tyhypko was soon elected to parliament from a first-past-the-post constituency. He joined Working Ukraine, a party with links to Dnipropetrovsk business, in particular, the influential industrialist Viktor Pinchuk, later to become the president's son-in-law. Tyhypko was elected chairman by the party congress in November 2000. Despite its ties to big business, Tyhypko describes Working Ukraine as being "left of centre".

Tyhypko became a prominent critic of the Yushchenko government in parliament, and he was one of the driving forces behind the no-confidence vote in which leftist and centrist forces joined to bring it down in April 2001. Tyhypko was widely tipped for the vacant post of prime minister, but the job eventually went to Anatoliy Kinakh.

Labour Ukraine entered parliament in the March 2002 elections as part of the pro-presidential For a United Ukraine bloc and subsequently formed a faction with Kinakh's Party of Industrialists and Entrepreneurs.

Meanwhile, Tyhypko had set up the TAS (the initials of his daughter Tyhypko Anna Serhiyivna) conglomerate to control his financial and industrial holdings, many of which appeared to have been transferred from the Privat Group.

CURRENT POST

Tyhypko controversially replaced Volodymyr Stelmakh as National Bank governor in December 2002 after Prime Minister Kinakh severely criticized the bank's activity. The pro-presidential majority removed Stelmakh at the third attempt in a vote by ballot papers after the opposition blocked the electronic voting system.

The move was widely seen as part of a deal to distribute government posts among the factions making up the parliament majority and was criticized by the opposition as an attempt to politicize the banking system.

In response to suggestions of a possible conflict of interest, Tyhypko pledged to disinvest from the TAS group and leave Working Ukraine. However, he remains party chairman and there have been no reports that he has sold his stake in TAS.

The nattily-dressed Tyhypko is regularly seen on TV, and he gained extra public visibility earlier this year when he appeared in a much-aired public service broadcast expounding the virtues of the new 20 hryvnya bill.

After the failure of the parliament majority and left wing factions to approve the political reform bill on 8 April, serious political problems have emerged for Working Ukraine. The Party of Industrialists and Entreprenuers left the joint parliament faction and Working Ukraine itself lost a number of prominent members including Pinchuk. Pinchuk insisted, however, that his departure was not the result of conflict with Tyhypko, who he insisted remained a friend.

Tyhypko is a French speaker and reportedly a chevalier of the Legion of Honour. His hobbies include weightlifting. Like his predecessor at the National Bank, Viktor Yushchenko, he is an amateur beekeeper.


FOR PERSONAL AND ACADEMIC USE ONLY


back