subscribe to newsletter
24.55 24.9
26.9 27.5
Politics 2019-09-15T04:16:29+03:00
Ukrainian news
Poroshenko, IMF Managing Director Lagarde Discuss Judicial Processes Aimed At De-Nationalizing PrivatBank

Poroshenko, IMF Managing Director Lagarde Discuss Judicial Processes Aimed At De-Nationalizing PrivatBank

President Petro Poroshenko and the managing director of the International Monetary Fund (IMF), Christine Lagarde, have discussed the judicial processes in Ukraine that are aimed at de-nationalizing PrivatBank.

The presidential press service announced this in a statement, Ukrainian News Agency reports.

"President of Ukraine Petro Poroshenko has held a telephone conversation with the International Monetary Fund’s Managing Director Christine Lagarde. The Ukrainian head of state thanked the IMF managing director for its continued support for reforms in Ukraine, which have already begun yielding positive results and stimulating economic growth. Lagarde noted the macro-financial stability in Ukraine and the successful functioning of the banking system. At the same time, concern was expressed about the situation surrounding the judicial processes in Ukraine that are aimed at de-nationalizing PrivatBank, which could jeopardize the country’s financial stability. Lagarde stressed the importance of ensuring the independence of the National Bank of Ukraine’s operations," the statement said.

The statement did not specify who expressed the concern about PrivatBank.

According to the statement, Lagarde assured Poroshenko of her readiness to develop cooperation between Ukraine and the IMF. She also called for the continuation of the reform processes in the country.

As Ukrainian News Agency earlier reported, on April 18, the District Administrative Court of Kyiv ruled that the nationalization of PrivatBank was illegal after considering a lawsuit by the bank’s former co-owner Ihor Kolomoiskyi.

Poroshenko believes that the cancelation of the PrivatBank nationalization could result in tens of millions of PrivatBank clients losing their money, Ukraine defaulting, and an economic crisis.

Poroshenko has also said that the IMF, the World Bank, the United States, and the European Union are concerned about this court decision.

The International Monetary Fund has stated that it considers the nationalization of PrivatBank to be legal.

Poroshenko has instructed the Prosecutor-General’s Office and the Security Service of Ukraine to determine whether there are grounds for opening criminal proceedings against the judges of the District Administrative Court of Kyiv that issued the ruling that declared the nationalization of PrivatBank illegal.

In response, the District Administrative Court of Kyiv’s judges have asked the Prosecutor-General’s Office and the State Bureau of Investigation to launch an investigation against Poroshenko for criticizing the court decision in the PrivatBank case.


Archive
News
No results found.
No results found.
No results found.

ok