IMF head: important to pay out credits of PrivatBank's insiders, attract independent managers

16:17, 19.12.2016 1 min read

The priorities after the decision on the nationalization of PrivatBank are to ensure the maximum repayment of loans issued to related parties and the involvement of an independent management team, Managing Director of the International Monetary Fund (IMF) Christine Lagarde considers.

"It is now important that the process of nationalization be followed by firm efforts to maximize the repayment of related-party loans, and the appointment of an independent management team to restore the bank's viability, minimizing the cost to the state and taxpayers in line with existing legislation and international best practice," she said.

"The IMF will continue to support Ukraine in its efforts to build strong institutions, enhance transparency, and advance structural reforms which are critical to achieve strong and sustainable economic growth," the banker stated.