The situation in the financial sector of Ukraine remains rather complicated, - Serhiy Rybalka

The politician believes that the economic growth will never happen unless Ukraine launches bona fide reforms and the NBU, the Cabinet of Ministers and Parliament cooperate on a daily basis
Date: September 04, 2017

According to Serhiy Rybalka, the member of Oleg Lyashko's Radical Party in the Ukrainian Parliament, head of Head of the Verkhovna Rada Committee on Financial Policy and Banking the situation in the financial sector of Ukraine remains rather complicated.

He wrote about this on his Facebook page, reports IA "MOST-DNEPR".

"We are starting the new, seventh session of the Parliament and the need of addressing important issues in the financial and banking sector becomes ever more urgent.

During the Conciliation Council meeting, I officially stated that the situation in the financial sector remains rather complicated. For starters, nobody can tell what the status of the Governor of the National Bank is today. She has been on vacation for almost half a year. Considering the predicament, in which our country is now it is something we cannot afford. On behalf of my committee I have already sent an official request to the President to speed up the nomination of a new NBU Governor.

The process of bailing out banks from a quagmire of the deepest banking crisis was lacking transparency and showed us that the reaction to the withdrawal of funds and assets from the banks was rather belated. Back in 2015, we passed a law on strengthening the banks' liability policies. I question myself what is the result of this and the only answer I can come up with is zilch. The government seems to cover for the failing banks deliberately.

In official statements, the National Bank proclaims its willingness to embrace transparency. If this is true, we expect that our committee's bill on the NBU responsibility and transparency (No. 5257), which was developed by the representatives of the financial committee and by all parliament factions will be wholeheartedly supported. This document was developed by a group of experts based on the best European practices.

The next draft law I would like to mention is the one on protection of consumer rights in financial services sector (No. 2456-d). I believe this legislation is critical for our citizens and for all participants of the financial market.

And last but not least it is extremely important to finally accept the draft law on the resumption of lending (No. 6027-d) that was finalized by our Committee. It is intended to step up lending and reduce the cost of loans for Ukrainian businesses and individuals.

I and my colleagues in the Radical Party are convinced that without real reforms and daily cooperation between the National Bank, the Cabinet of Ministers and the Parliament the economic growth will never happen. We will be left barehanded, with poverty and stagnation.

Once again, I called on the Parliament, the Government and the National Bank for daily cooperation to accelerate these reforms," the politician emphasized.

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