Economy 2022-11-15T04:59:14+02:00
Ukrainian news
Cabinet Must Approve Roadmap For Partial Or Full Privatization Of PrivatBank And Oschadbank Before February 20

Cabinet Must Approve Roadmap For Partial Or Full Privatization Of PrivatBank And Oschadbank Before February 2022 - Memorandum With IMF

HELP UKRAINIAN NEWS
Cabinet of Ministers, roadmap, PrivatBank, Oschadbank, privatization, State Savings Bank

The Cabinet of Ministers must approve a roadmap for the partial or full privatization of PrivatBank and the State Savings Bank (Oschadbank) before the end of January 2022.

This is stated in the memorandum of cooperation with the International Monetary Fund, Ukrainian News Agency reports.

"The government will approve a roadmap outlining the steps required to bring PrivatBank and Oschadbank to the market for partial or full privatization, and will also help attract reputable international investors," it was said.

These documents will also indicate the necessary legislative amendments that may be required to fulfill the indicated sales options and other steps to attract reputable international investors.

Besides, in order to improve management in state banks, it is planned to adopt before the end of November 2021 amendments to the legislation that will cancel the softening of the criteria for the selection of state representatives to the supervisory boards of state banks, and to attract an international authoritative adviser to assess the work of each supervisory board of the state bank in 2021.

As Ukrainian News Agency earlier reported, on November 22, the IMF Board of Directors approved the completion of the first revision of the stand by program and the allocation of a tranche of USD 700 million to Ukraine.

Besides, the IMF extended the program until the end of June 2022.





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