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Wednesday, March 11, 2020

Ukraine is interested in further cooperation with IMF, the work on the banking draft law is in progress - Volodymyr Zelenskyy in a conversation with Bloomberg

Further cooperation with the International Monetary Fund is important for Ukraine not only in terms of receiving the next tranche, but also in terms of maintaining confidence of international investors. Ukraine fulfills its obligations, President Volodymyr Zelenskyy said during a conversation with a Bloomberg journalist.
"We have already done more than any previous government, and they (IMF representatives - ed.) confirm this. We have land (land reform - ed.) and banking law left. I have assumed an obligation to adopt the land law and complete the banking law - we will do that,” the Head of State emphasized.
According to Volodymyr Zelenskyy, new Minister of Finance of Ukraine Ihor Umansky stands for signing the memorandum with the IMF as soon as possible. Together with Prime Minister Denys Shmygal they are planning to depart to the United States for a meeting.

The President of Ukraine noted that a bill on the functioning of the banking system was currently being elaborated to make it impossible for the former owners of the banks to reclaim them.
"Not only the Office of the President, not only (Minister of Justice - ed.) Maliuska, but also a large number of specialists and lawyers work on that. I think we need a little more time to agree on this bill,” he said.
Among the topical issues of the so-called banking bill, the Head of State mentioned possible problems in terms of assessing its constitutionality.
"I'm concerned about that. I have repeatedly met with the IMF. That's why lawyers do their best,” the President explained.

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