In the new memorandum concluded with the IMF, there are provisions stipulating that President of Ukraine Petro Poroshenko will veto the law on restructuring foreign currency credits in case it is approved by the Verkhovna Rada. This clause is included in the memorandum singed between Ukraine and the IMF, said the NBU representative at the meeting held by the parliamentarian committee dealing with financial policies and banking activities, RBK-Ukraine (РБК-Україна) reports.
As it has been stated in the message made by the committee, the talks involving the representatives from the NBU and Credit Maidan, covered the conclusions made by the IMF experts in relation to the draft law on restructuring credit foreign currency obligations into the national currency denominated ones – into the hryvnia”.
‘The representative of the NBU said that one of the paragraphs of the memorandum saying that Ukraine asks for the extended bail-out program (extended fund facility) amounting to $17.5 billion stipulates that the President of Ukraine shall use the veto power to block the decision of the parliament on restructuring foreign currency credits. According to the memorandum with the IMF, the government cannot interfere into bilateral negotiations between suppliers and banks as regards restructuring foreign currency mortgages”, - the message of the committee says.
It is also stated that upon demand of the representatives of Credit Maidan, a set of issue-related draft laws will be submitted for consideration of the parliament. Head of the ad hoc committee Sergy Rybalko said: “We are ready to submit these draft laws. But they, surely, will be vetoed by the President. You know what has happened with the law on toughening the moratorium on repossession of the property of the foreign currency borrowers. We voted for the said draft law twice, but received the veto and were not able to override it. We are not populists to consider laws only to pretend we are engaged in any activities. Both you and foreign currency borrowers need the result”.
Thus, the participants of the financial committee meeting have agreed to carry out additional consultations.
