Ukraine loan talks with IMF 'stalled' over PrivatBank: central bank
OCTOBER 11, 2019 / 11:11 AM / A DAY AGO
AMSTERDAM (Reuters) - Ukraine’s talks with the International Monetary Fund (IMF) for a new loan program have stalled because of the dispute between the state and a powerful tycoon over control of nationalized lender PrivatBank, the deputy central bank governor told Reuters.
Under new President Volodymyr Zelenskiy, the government has been negotiating a new IMF loan program to replace a $3.9 billion standby agreement that expires at the start of January.
Deputy Central Bank Governor Kateryna Rozhkova said in an interview during a trip to the Netherlands this week that the total amount of the IMF program and other international sources could be between $5 billion and $8 billion.
But Kiev must first resolve a dispute with Ihor Kolomoisky, one of Ukraine’s most powerful businessmen, who is fighting to reverse an IMF-backed decision in 2016 to nationalize PrivatBank, Ukraine’s largest lender.
Kolomoisky says the bank was nationalized on a false pretext and vehemently disputes the central bank’s assessment of PrivatBank’s financial state at the time the lender was taken into state hands.
“The discussions with the IMF for the next funding tranche are frozen, stalled because of the issue of PrivatBank,” Rozhkova said. “It is a red line for them, and for the international community.”
The PrivatBank issue “must be resolved, and not by any settlement with the former shareholders”.
https://www.reuters.com/article/us-ukraine-privatbank/ukraine-loan-talks-with-imf-stalled-over-privatbank-central-bank-idUSKBN1WQ20Q
"PrivatBank" = 114 (English Ordinal)
"PrivatBank" = 156 (Reverse Ordinal)
"PrivatBank" = 42 (Full Reduction)
"PrivatBank" = 66 (Reverse Full Reduction)
"PrivatBank" = 1003 (Jewish)
"PrivatBank" = 32 (Chaldean)
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