The IMF responds to a court decision on Privatbank

The International Monetary Fund (IMF) commented on the decision of the court in Kiev to recognize the nationalization of Privatbank, which belonged to the oligarch Igor Kolomoisky, as illegal. This is reported by UNN with reference to a statement by IMF Resident Representative Yosta Lyungman.

It is emphasized that the IMF continues to support Ukraine’s efforts to reform the financial sector and corporate governance in state-owned banks.

As noted, in 2016, the international partners of Kiev supported the decision to nationalize Privatbank, as this was the only effective way to protect bank depositors, as well as guarantee the stability of the financial system.

“… it ensured the long-term viability of Privatbank, saved the funds of millions of Ukrainian citizens and strengthened the country’s economic well-being,” Lyungman’s commentary says.

Earlier it was reported that Kolomoisky won another trial for Privatbank.