IMF Statement on the Stability of the Banking System in Ukraine

Stocks and Financial Services Press Releases Tuesday December 20, 2016 07:52
IMF--20 Dec--International Monetary Fund
Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), made the following statement:

"Today's decision of Ukrainian authorities to nationalize PrivatBank is an important step in their efforts to safeguard financial stability. This decision was taken to ensure the smooth operations of the bank given its systemic role in Ukraine's financial system, and in view of insufficient efforts to strengthen its capital adequacy in recent months.

"Ensuring that all banks operating in Ukraine meet capital and regulatory requirements is essential to maintain public confidence in the banking system and reinforce the banks' ability to support productive activities necessary for the prosperity of the Ukrainian people.

"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.

"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."

Latest Press Release

Photo Release: EXIM Thailand Celebrates 25th Anniversary Promoting Thai Entrepreneurs to New Frontiers Market Penetration and Sharpening new SME Exporters Global Competitive Edge

Mr. Pisit Serewiwattana, President of Export-Import Bank of Thailand (EXIM Thailand), announced on the Bank's 25th anniversary, at EXIM Thailand's Head Office on February 21, 2019 that EXIM Thailand is ready to play its role in bridging the business...

Photo Release: Sansiri debentures worth 5.5 billion Baht are offered for subscription via four major banks until February 26

Mr. Apichart Chutrakul (center) Chief Executive Officer, Sansiri PCL., Mr. Thiti Tantikulanan (2nd from left), Capital Markets Business Division Head, KASIKORNBANK, Mr. Narin Opamuratawongse (left), Executive Vice President and Manager, Investment...

New World Development จับมือ ASTRI สร้างแพลตฟอร์มบล็อกเชนสำหรับซื้ออสังหาริมทรัพย์แพลตฟอร์มแรกของฮ่องกง โดยมี BOCHK เป็นธนาคารแห่งแรกที่เข้าร่วม

New World Development Company Limited (NWD) ประกาศว่า บริษัทได้สร้างแพลตฟอร์มบล็อกเชนสำหรับซื้ออสังหาริมทรัพย์แพลตฟอร์มแรกของฮ่องกง ร่วมกับ Hong Kong Applied Science and Technology Research Institute Company Limited (ASTRI) โดยมี Bank of China (Hong...

LGT opens wealth management office in Thailand for high net worth investors

LGT, the international private banking and asset management group owned by the Princely House of Liechtenstein, today announced the opening of its wealth management business in Thailand, following the successful award of regulatory approvals. Located in...

EXIM Thailand Celebrates 25th Anniversary Promoting Thai Entrepreneurs Opportunities in New Frontiers

EXIM Thailand Celebrates 25th Anniversary Promoting Thai Entrepreneurs' Opportunities in New Frontiers and Product and Knowledge Base Development to Enhance SME Exporters' Global Competitiveness Mr. Pisit Serewiwattana, President of Export-Import Bank of...

Related Topics