Ukrainian government nationalizes the country largest PrivatBank

19:02, 19 December 2016

Ukrainian government nationalized PrivatBank, the biggest Ukrainian bank. The Cabinet of Ministers made a late Sunday announcement on their official website hat the Ukrainian government acquired 100 percent of shares of PrivatBank.

The Head of the National Bank of Ukraine Valeriya Hontareva announced that this is not going to affect the inflation and the currency rates. According to her the regulating authority has the resource to insure currency from fluctuation.

Finance Minister Oleksandr Danyliuk assured that the bank clients will have unhindered access to their accounts and ATMs.

Apart from that, the decision on nationalization will Ukraine push closer to receiving the next IMF tranche.