17:40 22.11.2019

PM: PrivatBank, its money must not be returned to previous shareholders

3 min read
PM: PrivatBank, its money must not be returned to previous shareholders

Authorities of Ukraine oppose the denationalization of PrivatBank and the return of its funds to ex-shareholders, Ukrainian Prime Minister Oleksiy Honcharuk at the EBRD Eastern Partnership (EaP) Investment Summit held in London on Friday.

"We – me, the president and the government – have a very clear understanding that the case of PrivatBank is indicative in relation to Ukraine in the whole world. Therefore, of course, we insist on the fact that neither this bank nor the funds from it should be returned to previous shareholders," the Voice of America said, citing the Ukrainian Prime Minister.

He said that the country's leadership has developed strategies that take into account different scenarios for the court decisions regarding PrivatBank.

Honcharuk also promised that the government would do everything possible so that the result of resolving the issue on PrivatBank would be a signal of positive changes in the country.

According to the prime minister, the loud statements of the oligarchs in the Ukrainian and foreign media are only proof that they are losing power, but want to seem influential.

He said that important steps to further reduce the influence of the personal interests of individuals are to maintain the independence of the National Bank of Ukraine (NBU), the fight against monopolies, especially in infrastructure, as well as the privatization of state-owned enterprises and the reform of the judicial system.

During his speech, the head of government repeatedly emphasized that the oligarchs in Ukraine do not affect the country's leadership and their policies, the Voice of America said.

The KyivPost publication on Friday published the words of ex-shareholder of PrivatBank Ihor Kolomoisky that soon the bank will be returned to him. The former owner also suggested that the reluctance of the nationalized bank to make concessions to employees of Nikopol Ferroalloy Plant, co-owned by Kolomoisky, could lead to the fact that "workers may enter PrivatBank."

Since September, Nikopol Ferroalloy Plant's employees protested near the head office of PrivatBank in Dnipro, and recently, its offices in Kyiv. On November 21, in particular, they picketed the building where the meeting of the bank's supervisory board was held during the visit of the mission of the International Monetary Fund.

According to Interfax-Ukraine, in negotiations with the IMF on the opening of a new extended fund facility (EFF), the feasibility of adopting an additional law that would guarantee the non-return of banks nationalized or withdrawn from the market to their owners, even if such a decision is made by the court, is being discussed.

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