Markarova: Stability and normal operation of the banking sector – it was always the issues discussed with the IMF and EU

Photo: Oksana Markarova / Facebook

The Minister of Finance of Ukraine Oksana Markarova reported on October 18 in Facebookthat the Ukrainian delegation in Washington had a constructive dialogue with the International monetary Fund in the framework of the annual meetings of the IMF and the world Bank.

https://www.facebook.com/oksana.markarova/posts/2457458540997586

Broadcast “voice of America” she added that the dialogue concerning the new cooperation programme.

The question under discussion at negotiations the theme of “PrivatBank”, Markarova said, “the Stability and normal operation of the banking sector – it was always the issues discussed with both the IMF and the EU.”

“Because you can’t have and macro stability, and an economy that is growing rapidly, without a properly functioning banking system. So “PrivatBank” is a very difficult question. We have in this case nothing has changed, that is, there is a legal strategy that we follow. There are 155 billion of taxpayers ‘ money that the government invested in the Bank… Discussed a lot of issues, including obtaining loans back not only from the “Privat”, but also from other troubled banks,” she added.

Annual meeting of the International monetary Fund and world Bank takes place from 14 th to 20 Oct.

PrivatBank – the largest commercial Bank in Ukraine was nationalized on 19 December 2016.

18 April 2019 the District administrative court of Kyiv satisfied the claim of the former co-owner of PrivatBank of businessman Igor Kolomoisky to the NBU and the Cabinet of the illegality of the nationalization of “PrivatBank”. The government of Ukraine appealed the decision. The NBU said in August 2019, Ukrainian courts review at least 270 cases that are associated with the activities of “PrivatBank”.

Kolomoisky said that after the election of the President of Ukraine hopes to receive compensation in connection with the nationalization of “PrivatBank” “in one form or another”. He also said he was not going to return the Bank property, but wants to return $2 billion of its capital.

13 Sep businessman called return of shares worth 60 billion, one of the conditions for the conclusion of the government of the settlement agreement in the case of the nationalization of “PrivatBank”.

The next hearing in the case of the nationalization of “PrivatBank” was scheduled for October 17, but it was canceled in connection with the suspension of the proceedings until the entry into force of the decision of the District administrative court of “PrivatBank”. Kyiv economic court can make a final decision on the claim Kolomoisky and Triantal Investments Ltd. about recognition invalid contracts of purchase and sale of shares of the Bank from December 21, 2016 the Ministry of Finance of Ukraine.

In the summer the Prime Minister of Ukraine Alexey Goncharuk said that the Ukrainian authorities will conduct with the IMF negotiations “on a new three or four-year programme of cooperation”. The IMF mission was in Kyiv 11-26 September. The Fund said that a key requirement to Ukraine for cooperation is the establishment of an effective anti-corruption structure.