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Poroshenko discusses with IMF Managing Director trials on denationalization of PrivatBank

Source : 112 Ukraine

Christine Lagarde emphasized the importance of ensuring the independent activity of the National Bank of Ukraine
19:06, 3 May 2019

president.gov.ua

President of Ukraine Petro Poroshenko had a phone conversation with Managing Director of the
International Monetary Fund Christine Lagarde, during which she expressed the concern concerning the court’s decisions on the nationalization of the PrivatBank.

The press service of the Head of State reported this.

 “At the same time, concern was expressed about the situation with the trials in Ukraine as regards denationalization of PrivatBank, which may endanger the financial stability of the state. Christine Lagarde emphasized the importance of ensuring the independent activity of the National Bank of Ukraine,” the report said.

Related: PrivatBank to sell stocks of its Latvian subsidiary

Poroshenko thanked the IMF Managing Director for the continued support of reforms in Ukraine.

Christine Lagarde noted the macro-financial stability in Ukraine and the successful functioning of the banking system. She assured the readiness to develop the cooperation between Ukraine and IMF, and she called for the continuation of the process of reforms.

Related: PrivatBank nationalization: Judges claim pressure from authority

On April 18, Kyiv-based court ruled that the nationalization of Privatbank in late 2017 was 'conducted with multiple law breaches.' The court, thus, granted the motion by Ihor Kolomoysky, the oligarch who appealed against the nationalization of the bank he had owned.

District Administrative Court of Kyiv granted the claim of Ukrainian oligarch Ihor Kolomoysky against the National Bank of Ukraine and Ukraine’s Government on nationalization of PrivatBank.

Related: Ukraine's court abolishes oligarch's Kolomoysky’s surety for loans of PrivatBank

 

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