The IMF approved the nationalization of PrivatBank

МВФ одобрил национализацию ПриватБанка

The IMF welcomed the nationalization of PrivatBank

Lagarde called the decision an important step to maintaining financial stability.

The international monetary Fund approved a decision on nationalization of PrivatBank. This is stated in the statement of the Fund.

Earlier, the Minister of Finance said that the nationalization of PrivatBank need for IMF tranche. Another condition is the adoption of the budget.

“Today’s decision of the Ukrainian authorities to nationalize PrivatBank is an important step in their efforts to preserve financial stability,” – said the managing Director of the IMF Christine Lagarde.

“This decision was taken in order to ensure the smooth operation of the Bank, given its systemic role in the financial system of Ukraine, and also due to insufficient efforts to strengthen capital adequacy in recent months,” – said the head of the IMF.

In her opinion, ensuring the compliance of all Ukrainian banks regulatory requirements of the national Bank is essential to maintaining public confidence in the banking system.

“It is now important that the process of nationalization was accompanied by a solid effort on the maximum repayment of the related loans, as well as the appointment of an independent management team to restore the viability of the Bank, minimizing the cost of the state and the taxpayers,” she said.

Earlier, the European Bank for reconstruction and development welcomed the nationalization of PrivatBank.

In addition, the nationalization of PrivatBank approved the EU.

Source