Full support. The first international reaction to the nationalization of “PrivatBank” from the EU and IMF

Full support. The first international reaction to the nationalization of “PrivatBank” from the EU and IMF

© Reuters

The financial institution was nationalized late on the evening of December 18.

In Europe welcomed the nationalization of “PrivatBank”, the decision on what the Cabinet of Ministers of Ukraine adopted late Sunday evening, 18 December, and call it the right solution that will reduce risks to the economy.

In particular, the support of the government’s decision on nationalization of “PrivatBank”, said after the meeting of the Association Council EU-Ukraine the EU high representative for the common foreign and security policy Federica Mogherini, reports “European true”.

“This decision should allow for the fact that all banks in Ukraine will work in the same conditions”, – said Mogerini.

She also noted that the European Commission endorses the cleansing of the banking sector and reforms in this area that holds the Ukraine.

See also: What will happen to the money of Ukrainians in the nationalized “PrivatBank”. The responses from the Ministry of Finance and the NBU

About support of the decision on nationalization of “PrivatBank” also spoke at the European Bank for reconstruction and development, which is one of the key creditors of Ukraine.

“As President of the European Bank for reconstruction and development I strongly support the government’s decision to nationalize the Ukrainian “PrivatBank” and thus protect its depositors – private individuals and businesses. Long-term stability of PrivatBank, the largest Bank in Ukraine, is absolutely necessary for a healthy economy in the country”, – reads the statement of the head of the EBRD Suma Chakrabarti, quoted by UNIAN.

See also: “PrivatBank” told who will get the online system “Privat24”

He notes that the steps taken by the government and the NBU, in cooperation with the shareholders of the “PrivatBank” is “the most realistic way to secure the future of the Bank and ultimately strengthen the entire banking system. The nationalization of banks in the system have allowed many developed countries to protect their economies during the global financial crisis – and it’s absolutely the right decision for Ukraine today. I would also like to emphasize that in the case of “PrivatBank” adviser to the government in the management of the Bank will make respectable Western company. The EBRD, of course, is also ready to offer cooperation in finding the optimal solution for “PrivatBank”. We have offered the government to take advantage of our experience.”

The government and the NBU also said that the decision on nationalization of “PrivatBank” also approve of the United States and the largest creditor of Ukraine international monetary Fund.

The managing Director of the IMF Christine Lagarde noted that the decision on nationalization of “PrivatBank” is a significant step towards the preservation and strengthening of financial stability of Ukraine, writes UNIAN.

“This decision was taken in order to ensure the smooth operation of the Bank, given its systemic role in the financial system of Ukraine. It is very important that all banks operating in Ukraine, meet financial and regulatory requirements, as this is the basis of maintaining public confidence in the banking system and strengthening the capacity of banks to support the productive activities necessary for the prosperity of the Ukrainian people, ” – said in a statement, Lagarde.

The head of the IMF notes that the process of nationalization should be accompanied by the fulfillment of the obligations of the Bank and the formation of a new team.

“The IMF will continue to support Ukraine in its efforts to build strong institutions, transparency and promotion of structural reforms that are crucial to achieving lasting and sustainable economic growth,” said Lagarde.

Meanwhile, Finance Minister Alexander danyluk said that after the recovery of the “PrivatBank” sell.