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Economy 2019-08-15T04:13:51+03:00
Ukrainian news
Finance Ministry Preparing Appeal Against Court's Ruling On Cancellation Of PrivatBank's Nationalization

Finance Ministry Preparing Appeal Against Court's Ruling On Cancellation Of PrivatBank's Nationalization

The Ministry of Finance of Ukraine is preparing an appeal against the ruling of the court to cancel nationalization of PrivatBank.

The ministry has said this in a statement, Ukrainian News Agency reports.

As Ukrainian News Agency earlier reported, the European Bank for Reconstruction and Development (EBRD) considers the nationalization of PrivatBank lawful.

According to the report, in 2016, Ukraine’s international partners supported the decision of the Ukrainian Government and the National Bank of Ukraine to nationalize PrivatBank at the request of its former owners as the only method to protect bank’s depositors – citizens of Ukraine and enterprises – and to preserve stability of the financial system.

The EBRD continues supporting NBU's efforts to reform the financial sector of Ukraine, in particular, through introduction of principles of right-minded corporate management and the efforts of the Finance Ministry to reform corporate management at the state-owned banks.

Deputy Head of the National Bank of Ukraine, Kateryna Rozhkova, states that return of PrivatBank to former owners through cancellation of its nationalization is impossible.

She added that the sole stockholder of PrivatBank now is the people of Ukraine.

President Petro Poroshenko considers that the cancellation of the nationalization of PrivatBank is threatening with loss of money by tens of millions of clients, and threatens Ukraine with default and economic crisis.

He supported the decision of the Cabinet of Ministers and the National Bank of Ukraine to appeal against respective court’s ruling.

On the whole the Poroshenko’s address touched the upcoming second round of the presidential election scheduled for April 21.

On April 18, the District Administrative Court of Kyiv declared nationalization of PrivatBank unlawful under respective appeal from its former co-owner / businessman, Ihor Kolomoiskyi.

Больше новостей о: PrivatBank Ministry of Finance PrivatBank nationalisation

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