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Ukraine’s National Bank supports version of approved ‘banking’ bill

Source : 112 Ukraine

It expects Verkhovna Rada to approve the draft law promptly
20:15, 27 April 2020

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National Bank of Ukraine (NBU) is counting on the adoption of bill № 2571-d on the improvement of banking regulation mechanisms, the supporting of which was recommended by Verkhovna Rada's Committee on Finance, Tax and Customs Policy. This was reported by the NBU’s press service.

"Verkhovna Rada's Committee on Finance, Tax and Customs has just recommended supporting the Banking Bill № 2571-d in the second reading and in general. We are expecting Verkhovna Rada to approve the draft law promptly,” the message reads.

The National Bank notes that this law is one of the preconditions for a new program of cooperation between Ukraine and the IMF. It will allow making the process of withdrawing banks inevitable.

Related: Ukraine to get loan from IMF within three weeks after passing law on banking activity, - MP

As we reported earlier, Ukraine can count on a $2 billion tranche from the International Monetary Fund (IMF) in the second quarter of 2020.

“Ukraine had come close to the approval of the new cooperation program by the IMF Board of Directors. The renewed prediction of the NBU supposes the receiving of the first tranche of the financing in the sum of about $2 billion in the second quarter,” the message reads.

Related: Volker explains how vote on ‘banking’ bill couldhave impact on Ukraine's future

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