Zelensky announces signature of Ukraine-IMF memorandum this month

Source : 112 Ukraine

The President will sign the law on the banking activity, which is the final requirement for the memorandum signature with the Fund
12:18, 20 May 2020

In the near future, President of Ukraine Volodymyr Zelensky will sign the law on the improvement of mechanisms of banking activity regulation. He said he expected that the signature of a memorandum between Ukraine and the IMF would take place in May.

Zelensky said so during the press conference timed to the first year of his presidency. 112 Ukraine TV channel broadcasted the event.

"Now, I will sign the bank law, the final requirement for the signature of the memorandum between the state of Ukraine and the IMF. We wil sign this memorandum. I'm confident we will sign it in May; one shoudn't put that on hold. I will soon get the bank law - tomorrow, or the day after tomorrow, maybe even today. And the doors will be open to the IMF assistance that we fought for so desperately, and you all saw this. We fought for it even in the Verkhovna Rada (the Parliament, - 112 International), Zelensky said.

Related: Funds from IMF to be directed to cover budget deficit of Ukraine, - National Bank Head

The MPs passed the bank law on May 13, giving it 270 votes with 226 necessary to pass. The document offers an ultimate ban on the return of the nationalized banks to its previous owners. Passing the law was among the demands of the IMF in order to assign financial aid for Ukraine. 

Related: Poroshenko bragged before Biden about increasing tariffs for Ukrainians higher than IMF asked

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