{
  "title": "IMF Statement on the Stability of the Banking System in Ukraine",
  "publication": "IMF News, December 19, 2016",
  "sourceUrl": "https://www.imf.org/en/news/articles/2016/12/19/pr16568-imf-statement-on-the-stability-of-the-banking-system-in-ukraine",
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  "summary": "<p>This decision was taken to ensure the smooth operations of the bank given its systemic role in Ukraine&rsquo;s financial system, and in view of insufficient efforts to strengthen its capital adequacy in recent months</p>",
  "publishDate": "2016-12-19",
  "sections": [
    {
      "heading": "Context and action",
      "content": "- Press Release No. 16/568\n- Date: December 19, 2016\n- Issued by: IMF Communications Department, MEDIA RELATIONS\n- Press officer: Wiktor Krzyzanowski\n  - Phone: +1 202 623-7100\n  - Email: MEDIA@IMF.org"
    },
    {
      "heading": "Summary of the IMF position",
      "content": "- The IMF welcomes the Ukrainian authorities’ decision to nationalize PrivatBank as an important step to safeguard financial stability.\n- The decision was taken to ensure the smooth operations of the bank given:\n  - its systemic role in Ukraine’s financial system, and\n  - insufficient efforts to strengthen its capital adequacy in recent months."
    },
    {
      "heading": "Key findings and priorities outlined by Ms. Christine Lagarde, Managing Director of the IMF",
      "content": "- Ensuring that all banks operating in Ukraine meet capital and regulatory requirements is essential to:\n  - maintain public confidence in the banking system, and\n  - reinforce the banks’ ability to support productive activities necessary for the prosperity of the Ukrainian people.\n- Following nationalization, priorities include:\n  - firm efforts to maximize the repayment of related-party loans, and\n  - appointment of an independent management team to restore the bank’s viability.\n- These actions should aim to minimize the cost to the state and taxpayers in line with:\n  - existing legislation, and\n  - international best practice."
    },
    {
      "heading": "IMF support and broader objectives",
      "content": "- The IMF will continue to support Ukraine in efforts to:\n  - build strong institutions,\n  - enhance transparency, and\n  - advance structural reforms which are critical to achieve strong and sustainable economic growth.\n\nSource: IMF Statement on the Stability of the Banking System in Ukraine (Press Release No. 16/568, December 19, 2016).\n\n---\n\n Content in this bundle\n\n- Pr16568 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- Ukraine and the IMF\n- Press Releases\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2016/12/19/pr16568-imf-statement-on-the-stability-of-the-banking-system-in-ukraine"
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    "Published: December 19, 2016",
    "Press Release No. 16/568",
    "Date: December 19, 2016",
    "Issued by: IMF Communications Department, MEDIA RELATIONS",
    "Press officer: Wiktor Krzyzanowski",
    "The IMF welcomes the Ukrainian authorities’ decision to nationalize PrivatBank as an important step to safeguard financial stability.",
    "The decision was taken to ensure the smooth operations of the bank given:",
    "Ensuring that all banks operating in Ukraine meet capital and regulatory requirements is essential to:",
    "Following nationalization, priorities include:",
    "These actions should aim to minimize the cost to the state and taxpayers in line with:",
    "The IMF will continue to support Ukraine in efforts to:",
    "[Pr16568 (PDF)](/external/lang/ukrainian/np/sec/pr/2016/pr16568.pdf){rel=\"external\" type=\"application/pdf\"}",
    "[Ukraine and the IMF](http://www.imf.org/external/country/UKR/index.htm)",
    "[Press Releases](https://www.imf.org/en/news/searchnews)",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
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