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Cabinet moves to attract external advisor for state-owned bank reform
Journal Staff Report

KIEV, April 12 Ukraine's Cabinet of Ministers, under a proposal of the Finance Ministry, has approved the attraction of an external advisor who will advise the ministry in upgrade of the strategy for reforming state-owned banks.

The decision was made by the government on Wednesday.

"Implementing clause 13 of the memorandum [signed by Ukraine and the International Monetary Fund, IMF] where it is necessary to update the strategy for reforming the banking sector in light of the nationalization of PrivatBank (Dnipro), an external advisor should be attracted. The funds were not foreseen for this in the national budget 2017, as the bank was nationalized after the adoption of the budget. We appeal to approve the proposal of the Finance Ministry," Finance Minister Oleksandr Danyliuk said at the government meeting.




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