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                        THURSDAY, MARCH 28, 2024
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UJ Week
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Business    

IMF experts urge government to liquidate 2 of 3 recapitalized banks
Journal Staff Report

KIEV, Feb. 22 – At talks between Ukraine and the International Monetary Fund, the fund's experts recommended that the Ukrainian government liquidate two out of three banks recapitalized by the state – Kyiv Bank and Rodovid Bank, and retain the license for Ukrgasbank, the Dzerkalo Tyzhnia.Ukraine (Mirror Weekly) newspaper reported on February 19, referring to its own sources.

The IMF said that taking into account large budget expenses on financial aid for three banks recapitalized in 2009, which could exceed UAH 30 billion, or almost 1.5 times more than the liabilities of the troubled banks to their depositors, it would have been cheaper for the state to pay deposits to the public through the Individuals' Deposit Guarantee Fund and liquidate all of the troubled institutions, as the government has failed to resolve problems of the state-run banks and return money to depositors.




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