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IMF, G7 concerned about court's decision on PrivatBank case

Besides, the representatives of the organizations were mainly discussing the progress in reforms implementation on the financial market of Ukraine and further steps
19:55, 3 May 2019

National Bank of Ukraine

G7 Ambassadors and the representatives of the International Monetary Fund expressed concern about the stability of the Ukrainian financial system during the meeting with the leadership of the National Bank of Ukraine, as the press office of the establishment reported.

“The ambassadors of G7 states and the representatives of the International Monetary Fund have met with the leadership of the National Bank of Ukraine to discuss the current state of economy and banking sector of Ukraine,” the message reads.

“The participants of the meeting paid special attention to the current priorities of the work of the National Bank and the risks for the stability of the financial system including those related to several trials. In particular, G7 Ambassadors expressed concern discussing the question of certain resonance court’s decisions,” NABU representatives stressed.

Related: Oligarch Kolomoysky files five lawsuits against National Bank, PrivatBank

Besides, the parties were mainly discussing the progress in reforms implementation on the financial market of Ukraine and further steps.

“The priorities of the National Bank remain preservation of macroeconomic stability, reaching the goal on inflation and reduction of the discount rate to facilitate and lower the price of loans if it complies with preservation of price stability. Besides, further implementation of currency liberalization is the focus of attention, as well as reforming of corporate governance in the state banks, solution of the problem of large amounts of non-performing loans on the bank’s accounts and “split” of the functions of the National Commission which deals with state regulation of the market of financial service, between the National Bank and National Commission on securities and stock market,” National Bank informed.

Related: PrivatBank nationalization: Judges claim pressure from authority

Dmytro Sologub, Deputy Chairman of the National Bank, also stressed that Ukraine has reached macroeconomic stabilization and it is time to work on the development of stock markets. And this concerns not only National Bank, but also all the state bodies which implement regulation on the stock markets.

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