17:54 31.03.2016

Rada adopts bill on financial restructuring

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Rada adopts bill on financial restructuring

The Verkhovna Rada at a meeting on March 31 at first reading passed bill No. 3555 on financial restructuring, which will introduce a mechanism of the voluntary financial restructuring of debtor enterprises with a view to resolving the situation with problem loans and resuming lending to the economy by banks.

Some 229 MPs supported bill No. 3555, while three of them opposed the document.

According to Deputy Finance Minister Artem Shevalev, the bill is aimed at creating a working and efficient mechanism for the voluntary restructuring of enterprises' debts. He said the measure would help create jobs and enable enterprises to solve the problem of solvency, as well as contribute to the resumption of lending to the economy.

The document is part of the package of laws that are to be passed within the framework of Ukraine's cooperation program with the IMF. The measures are also stipulated in a comprehensive program for the development of the financial sector in Ukraine until 2020.

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