The Ukrainian Parliament adopted two laws to strengthen the independence and institutional strengthening of the National Bank of Ukraine.
Acceptance of the change in the number of laws is one of the conditions of allocation of Kiev to the second tranche of the international monetary Fund in the amount of 1, 7 billion.
Rada adopted amendments relate to the Council of the national Bank, its autonomy, as well as General reserves and profit distribution. Provides for the strengthening of Supervisory powers of the Board of the national Bank, for example, it is Proposed to place the full responsibility for the internal monitoring and risk management. In addition, the increased personal autonomy of Board of national Bank and his deputies head. It is Also proposed to reduce the number of members of the Board of the NBU (up to nine people instead of 15) and the Board of the national Bank for up to six people instead of 11).
Also written the rules of profit distribution between the Central Bank and the government. For example, they will be directed to the gradual build-up of common stocks that they reach the level of 4%, 7% and 10% of monetary liabilities at the end of 2014, 2015 and 2016 respectively.
The documents shall be signed by the leader of Ukraine, it is planned that they will enter into force on the day following the day of its promulgation in the official media.
The IMF Executive Board in March blessed new program of financial assistance to Ukraine, providing for the allocation of Kiev Fund 17, 5 billion dollars, and all international creditors over four years - $ 40 billion, including the fifteen billion through debt restructuring. Then the Ukrainian authorities have initiated conversations with creditors on debt restructuring.
New credit IMF program for Ukraine provides for the allocation of Fund 17, 5 billion dollars, and all international creditors over four years - $ 40 billion, including the fifteen billion through debt restructuring. Under the terms of the IMF Ukraine should implement economic reforms. IMF specialists offer the Ukrainian government to focus on the reform of the revenue side of the budget, energy, industrial sector, as well as in the areas of education and health.
Economist Paul Nefedov: